Outlook 11/21: U.S. stock index futures are rebounding ahead of the open, taking a break from the latest wave of global selling. Major indexes shed gains for 2018 on Tuesday, as a selloff in high-flying technology shares bled into all corners of the financial markets. The selloff renewed concerns that the nearly 10-year bull market could be running out of steam, even as ongoing growth in the U.S. economy signals to many a recession isn't imminent. With the Thanksgiving holiday on Thursday, volume could be light today.
/ESZ18 Value: YVAH 2661 YPOC 2645 YVAL 2640 GAP 2640.50
/ES Plan: Yesterday market closed leaving a bearish imbalance but Overnight auction looks more bullish, moving within 2684-2652 range, so we've these options:
A) If market remains above HVE 2652 with bullish internals, become a buyer towards ONH 2667 HVE 2684 GAP 2696.50 and LVN 2700.
B) If market starts to move below HVE 2652 with bearish internals, be a seller towards GAP 2640.50 ONL 2632.25 and HVE 2620.
Today's Economic Calendar
10:00 Consumer Sentiment
10:00 Existing Home Sales
10:00 Leading Indicators
10:30 EIA Petroleum Inventories
12:00 PM EIA Natural Gas Inventory
01:00 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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Glossary of terms
