Outlook 11/20: Futures indexes across the globe slid overnight, extending the latest wave of selling amid pressure on the technology sector. Each of the five "FAANG" stocks closed in bear territory on Monday, further shaking confidence in a group that has propelled the long bull market. Apple dropped close to bear territory on concern consumers are no longer clamoring for its cornerstone product, iPhone.
/ESZ18 Value: YVAH 2712 YPOC 2692 YVAL 2684 GAP 2696.50
/ES Plan: Yesterday market closed leaving a bearish imbalance and Overnight auction has repaired that imbalance, moving within 2684-2652 range, so we've these options:
A) If market remains below LVN 2659 with bearish internals, be a seller towards ONL and HVEs 2652-2646-2627-2620.
B) If market starts to move above 2659 with bullish internals, buy towards HVE 2684 GAP 2696.50 and ONH 2696.75
Today's Economic Calendar
11:30 4-Week Bill Auction
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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