Outlook 11/29: U.S. stock index futures are pulling back after a stellar session on Wednesday, after a dovish speech by Jerome Powell. He said the Fed's benchmark interest rate was "just below" neutral, marking a step away from comments made in recent months. The FOMC minutes release at 2 PM Eastern will be watched closely for confirmation of Chairman Powell's comments yesterday.
/ESZ18 Value: YVAH 2729 YPOC 2692 YVAL 2684 GAP 2742.25
/ES Plan: Yesterday market closed bullish after dovish speech by Jerome Powell. Overnight auction looks balanced, moving above previous value, within 2729-2744 range, so we've these options:
A) If market opens within ON value 2738-2732, stay aside until buyers or sellers break that 'No Man's Land' Zone.
B) If market starts to move above ON-VAH 2738 with bullish internals, be a buyer towards ONH-GAP 2742 LVN 2744 and HVE 2758.
C) If market starts to move below ON-VAL 2732 with bearish internals, sell towards ONL-HVE 2729 HVE 2719 and LVN 2700.
Today's Economic Calendar
10:00 Pending Home Sales
10:30 EIA Natural Gas Inventory
01:00 PM Fed's Kaplan Speech
02:00 PM Fed's Mester Speech
02:00 PM Fed's Evans Speech
02:00 PM FOMC minutes
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
