Outlook 09/19: Global markets will continue to monitor developments in the escalating trade war between U.S. and China. According to new research from Bank of America, Beijing may deploy monetary and economic stimulus in its effort to address any negative impact from the new import tariffs being rolled out by the Trump administration.
/ESZ8 Value: YVAH 2917 YPOC 2913 YVAL 2904
/ES Plan: Yesterday market closed bullish but overnight looks more balanced, moving within yesterday's value, so we've these options:
A) If market remains above YVAL 2904 with bullish internals, become a buyer towards GAP 2912.25 YVAH 2917 and PBTs 2921-2928-2942.
B) If market starts to move below YVAL 2904 with bearish internals, try to be a seller towards GAP 2896 LVN 2890 and YLOD 2883.50
Tips: I use DOM absorption and TAPE reading. Absorption occurs when aggressive traders 'Hit the Bid or Lift the Offer' on high volume, and are met with players who “absorb” all of these orders. The price moves very little or not at all. Tape reading means tracking orders greater than 40-50 contracts on the 'Time and Sales' to measure buy or sell pressure.
Today's Economic Calendar
10:30 EIA Petroleum Inventories
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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