Outlook 11/30: Shares across Europe and U.S. futures are drifting lower on the final day of November, as markets watch ongoing trade developments between the world's two largest economies. President Trump and China's Xi Jinping are expected to meet on the sidelines of the G20 summit in Argentina and the two leaders will have a dinner meeting with staff on Saturday evening. The presence of three top crude producers (Saudi Arabia, Russia and the U.S.) have also raised expectations that oil policy will be discussed in Buenos Aires.
/ESZ18 Value: YVAH 2744 YPOC 2735 YVAL 2729 GAP 2744
/ES Plan: Yesterday market closed balanced after FOMC Minutes. Overnight auction looks bimodal (LIS 2734), moving within previous value, into 2729-2744 range, so we've these options:
A) If market remains above LIS 2734 with bullish internals, become a buyer towards ONH 2743 LVN-GAP 2744 and HVE 2758.
B) If market starts to move below 2734 with bearish internals, become a seller towards ONL-YVAL-HVE 2729 and HVE 2719.
Today's Economic Calendar
9:00 Fed's Williams Speech
9:45 Chicago PMI
1:00 PM Baker-Hughes Rig Count
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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