Outlook 08/30: Stocks Futures pause for breath after record four-day run. Investors are concerned that the U.S. focus on both a NAFTA deal and the impending mid-term elections will put the stall trade talks with China further down on the President's agenda.
/ESU8 Value: YVAH 2917 YPOC 2913.50 YVAL 2908
/ES Plan: Yesterday market closed leaving a bullish profile (PBTs 2928-29) but overnight shows slight bearish bias, moving within yesterday's value, so we've these options:
A) If market remains above YVAL 2908 with bullish internals, become a buyer above 2908 towards ONH 2916.25 ATH 2917.50 and PBT 2929. 'Look above and fail' is a bearish signal.
B) If market starts to move below YVAL 2908 with bearish internals, try to lean on 2908 towards ONL 2907 YLOD 2897.50 and HVE 2892. 'Look below and fail' is a bullish signal.
Tips: Trading is not a game of perfect. It's an art, not an exact science. Don't waste time looking for the 'Holy Grail' formula.
Today's Economic Calendar
10:30 EIA Natural Gas Inventory
04:30 PM Money Supply
04:30 PM Fed Balance Sheet
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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