Outlook 09/17: Today, markets will be digesting a Wall Street Journal report from Saturday that the Trump administration plans to announce new tariffs on $200 billion worth of imports from China. That was followed by another report that China would decline to participate in trade talks if such tariffs were implemented. The heightened level of uncertainty is likely to be unwelcome by market participants.
/ESZ8 Value: YVAH 2914 YPOC 2911 YVAL 2908
/ES Plan: On Friday market closed bullish (PBT 2921) but overnight looks balanced, moving within yesterday's value, so we've these options:
A) If market remains above YVAL 2908 with bullish internals, become a buyer towards GAP 2911.75 YVAH 2914 and PBT 2921. 'Look above and fail' is a bearish signal.
B) If market starts to move below YVAL 2908 with bearish internals, try to be a seller towards ONL 2904 YLOD 2902 HVEs 2900 and 2892. 'Look below and fail' is a bullish signal.
Tips: Quadruple Expiration Week. I'm quoting December contract /ESZ8 due it shows greater volume than September /ESU8.
Today's Economic Calendar
11:30 3 Month Bill Auction
11:30 6 Month Bill Auction
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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