Outlook 11/15: U.S. stock futures pointed to a lower open after the UK pound was sliding amidst heightened Brexit uncertainty and the resignation of multiple ministers. U.K. retail banks and homebuilders slumped, after U.K. Brexit Secretary Dominic Raab resigned from his post, stating he couldn't support Theresa May's Brexit deal for two reasons. "First, I believe that the regulatory regime proposed for Northern Ireland presents a very real threat to the integrity of the U.K." "Secondly," he added, "I cannot support an indefinite backstop arrangement, where the EU holds a veto over our ability to exit."
/ESZ18 Value: YVAH 2720 YPOC 2703 YVAL 2695 GAP 2698.75
/ES Plan: Yesterday market closed balanced. Overnight looks more bearish, moving within Yesterday's value and 2700-2684 range, so:
A) If market remains below LVN 2700 with bearish internals, be a seller towards ONL 2689 GAP 2684.50 LVN 2673 and HVE 2652.
B) If market starts to move above 2700 with bullish internals, become a buyer towards ONH 2716.75 and HVEs 2719-2729-2745.
Today's Economic Calendar
10:00 Fed's Reserve Vice Chairman Quarles Testimony
10:00 Business Inventories
10:30 EIA Natural Gas Inventory
11:00 EIA Petroleum Inventories
11:00 Jerome Powell Speech
01:00 PM Fed's Bostic Speech
03:00 PM Fed's Kashkari Speech
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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