Outlook 11/26: Following the worst Thanksgiving week for U.S. indexes since 2011, stock index futures are pointing to major gains at the open. Equities could get a further boost later this week if a trade breakthrough arises from the meeting between President Trump and Xi Jinping at the G20 summit in Argentina.
EU leaders from 27 states on Sunday formally backed Theresa May's Brexit withdrawal agreement. The biggest question now is whether May’s divided minority government can steer the deal through fierce resistance in the U.K. parliament.
/ESZ18 Value: YVAH 2644 YPOC 2639 YVAL 2634 GAP 2628.50
/ES Plan: After Friday's sell-off, overnight auction looks more bullish, moving above previous value, within 2652-2620 range, so:
A) If market remains above HVE 2652 with bullish internals, become a buyer towards ONH 2666 HVE 2684 and GAP 2696.50
B) If market starts to move below HVE 2652 with bearish internals, sell towards YVAH 2644 ONL 2631.50 and GAP 2628.50
Today's Economic Calendar
10:30 Dallas Fed Manufacturing Survey
01:00 PM 2-Year Note Auction
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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