Outlook 10/02: Today, no major data are set for release. Federal Reserve Chairman Jerome Powell will be speaking from the NABE conference. Yesterday, we finally know what Trump wants on trade. President Donald Trump strategy is finally coming into focus, after several months of fits and starts. And it’s not about Canada, Mexico, Europe or other friendly allies. It’s all about China. Trump's revamped NAFTA deal is all about China. Trump cannot pick trade fights with everybody and expect to win. And if Trump wants to force reforms on China, the best way to do it is to team up with trading partners that have the same concerns.
/ESZ8 Value: YVAH 2939 YPOC 2932.50 YVAL 2927
/ES Plan: Yesterday market closed balanced and overnight profile looks slight bearish, moving below yesterday's value, so we've these options:
A) If market remains below YVAL 2927 with bearish internals, become a seller towards YLOD 2922.50 GAP 2920.25 HVE 2918 and ONL 2917.50.
B) If market starts to move above YVAL 2927 with bullish internals, try to buy towards ONH 2930 YPOC 2932.50 HVE 2936 and YVAH 2929
Today's Economic Calendar
10:00 Randal Quarles Speech
12:00 PM Jerome Powell Speech
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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