Outlook 11/23: U.S. stock index futures are pointing to a weaker open, with an abbreviated trading session on tap and many traders absent from their desks. From a stock market perspective, history suggests this is a very good time for retail stocks, but forecasts may differ this year due to the recent risk-off sentiment.
/ESZ18 Value: YVAH 2666 YPOC 2655 YVAL 2652 GAP 2640.50
/ES Plan: After holiday overnight auction looks more bearish and bimodal (LIS 2632), moving below previous value, within 2652-2620 range, so we've these options:
A) If market remains below LIS 2632 with bearish internals, become a seller towards ONL 2626 and HVE 2620.
B) If market starts to move above 2632 with bullish internals, be a buyer towards ONH 2646.25 and HVE 2652.
Reminder : It's Friday and a shortened day. NYSE will close at 1PM ET. Don't try to make your week today.
Today's Economic Calendar
9:45 PMI Composite Flash
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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Glossary of terms
