Outlook 09/28: Today, investors will be greeted by the final day of the month and the quarter with a fairly busy economics schedule. In the morning, investors will get the final reading on consumer sentiment from the University of Michigan will also be released in the morning, the second check this week on the U.S. consumer after The Conference Board's consumer confidence measure earlier this week indicated confidence is at an 18-year high.
/ESZ8 Value: YVAH 2928 YPOC 2920 YVAL 2917
/ES Plan: Yesterday market closed bearish (PBT 2906) and overnight profile looks bimodal (LIS 2915) moving below yesterday's value, so we've these options:
A) If market remains below LIS 2915 with bearish internals, become a seller towards ONL 2908 HVE 2905 GAP 2896 and HVE 2877.
B) If market starts to move above LIS 2915 with bullish internals, try to buy towards GAP-YPOC 2920 ONH 2924.25 and YVAH 2927.
Tips: It's Friday, the final day of the month and the quarter. Trade the first 2 hours for liquidity. If you get a decent success rate in the morning, trading Friday afternoon is totally unnecessary.
Today's Economic Calendar
09:45 Chicago PMI
10:00 Consumer Sentiment
01:00 PM Baker-Hughes Rig Count
04:45 PM Fed's Williams speech
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
Questions? Just ask via email or twitter @verniman direct message.
