Outlook 10/22: Futures Stocks indexes crept higher on Monday on relief over Italy's budget, tracking rallies in Asia markets after China promised to provide stimulus to stabilize its economy and offset the impact of U.S. tariffs. The Shanghai Composite closed up 4.1%, on track for its best day since March 2016, following a Friday jump spurred by signals of government support in the wake weaker quarterly growth figures.
/ESZ18 Value: YVAH 2783 YPOC 2775 YVAL 2765
/ES Plan: On Friday market closed bearish (PBT 2750). Overnight hit PBT 2750 and bounced and offers a bullish 'p' shape (GBT 2796), moving within Yesterday's value. We're moving into 2783-2765 auction range, so we've these options:
A) If market remains above YPOC 2775 with bullish internals, buy towards ONH 2782 YVAH-HVE 2783 and HVEs 2789-2796-2808.
B) If market starts to move below 2775 with bearish internals, sell towards GAP 2767.75 YVAL-HVE 2765 and GAP 2748.75
Note: I'll show buy zones (Long) on green and sell zones (Short) on red. Then refine entries using /ES Tape and $ADSPD correlation.
Today's Economic Calendar
No economic data scheduled for today.
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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