Outlook 11/27: Stock market sentiment felt some pressure overnight after President Trump said he expected to raise tariffs on $200B of Chinese goods to 25% (from the current 10%) on Jan. 1. He also declared that he's ready to apply a further round of levies on $267B worth of imports, including iPhones and laptops, starting next year. In response, China's foreign ministry urged the U.S. to work toward a positive outcome of a planned G20 meeting later this week between President Trump and Xi Jinping in Buenos Aires.
/ESZ18 Value: YVAH 2674 YPOC 2670 YVAL 2662 GAP 2669
/ES Plan: Yesterday market closed bullish but after Trump announcement, overnight auction looks more bearish, moving below previous value, within 2652-2684 range, so we've these options:
A) If market remains below YVAL 2662 with bearish internals, sell towards ONL 2655.25 HVE 2652 YLOD 2643 and GAP 2628.50
B) If market starts to move above YVAL 2662 with bullish internals, be a buyer towards LVN 2666 HVE 2684 and GAP 2696.50
Today's Economic Calendar
09:00 Case-Shiller Home Price Index
09:00 FHFA House Price Index
10:00 Consumer Confidence
01:00 PM 5-Year Note Auction
02:30 PM Fed's Bostic, George, Evans speech
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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