Outlook 11/28: U.S. stock index futures rose 0.4% ahead of the Fed Chair Jerome Powell speech. He's likely to provide insights into the Fed's plans for monetary tightening and may address growing hostility from President Trump, who said in an interview on Tuesday he's "not even a little bit happy with my selection of Jay" and believes the central bank is "way off-base with what they're doing."
/ESZ18 Value: YVAH 2679 YPOC 2673 YVAL 2665 GAP 2684
/ES Plan: Yesterday market closed bullish after Larry Kudlow said "G20 summit was an opportunity to 'turn the page' on the U.S.-China trade war". Overnight auction looks bimodal (LIS 2692), moving above previous value, within 2684-2700 range, so we've these options:
A) If market remains above LIS 2692 with bullish internals, become a buyer towards ONH 2697.25 LVN 2700 and HVE 2704.
B) If market starts to move below 2692 with bearish internals, be a seller towards HVE-GAP 2684 ONL 2681 and YVAH 2679.
Today's Economic Calendar
10:00 New Home Sales
10:00 Richmond Fed Mfg.
10:00 State Street Investor Confidence Index
10:30 EIA Petroleum Inventories
12:00 PM Jerome Powell Speech
01:00 PM 7-Year Note Auction
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
Questions? Just ask via email or twitter @verniman direct message.
Glossary of terms
