Outlook 08/09: US stocks futures show bullish bias after Jobless claims data. The number of Americans filing for unemployment benefits unexpectedly fell last week. The data suggested that a strong economy was helping the labor market weather ongoing trade tensions between the U.S. and a host of other countries.
/ESU8 Value: YVAH 2861 YPOC 2860 YVAL 2855
/ES Plan: Yesterday market closed bullish (PBT 2865) and overnight looks slight bullish (GBT 2862), moving within yesterday's value, so we've these options:
A) If market remains above YVAL 2855 with bullish internals, become a buyer above 2855-2856 towards ONH 2860 GBT 2862 and PBTs 2865-2872. 'Look below and fail' is a bullish signal.
B) If market starts to move below YVAL 2855 with bearish internals, try to sell leaning on 2855 towards ONL 2852.75 GAP 2850 and HVE 2845. 'Look above and fail' is a bearish signal.
Tips: Consider the habits of the product you trade, such as 10 Handle Rule, Value Area Rule and One Tick Failure.
Today's Economic Calendar
09:30 Fed's Evans speech
10:00 Wholesale Trade
10:30 EIA Natural Gas Inventory
01:00 PM 30-Year Note Auction
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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