Outlook 12/26: Traders returning from the holiday are sending U.S. futures higher following the Grinch's appearance on Christmas Eve that continued the market meltdown. President Trump has since praised U.S. companies, saying, "they have record kinds of numbers. So I think it's a tremendous opportunity to buy," and expressed confidence in Treasury Secretary Steven Mnuchin, who convened the "Plunge Protection Team" on Monday after speaking with executives from six major banks.
/ESH19 Value: YVAH 2405 YPOC 2380 YVAL 2368 GAP 2342.25
/ES Plan: On Monday market closed bearish but overnight after Christmas looks more balanced moving below previous value, into 2368-2353 range, so we've these options:
A) If market remains above HVE 2353 with bullish internals, be a buyer towards HVE-YVAH 2368 HVE-YPOC 2380 and HVEs 2395-2405.
B) If market starts to move below 2353 with bearish internals, become a seller towards GAP 2342.25 ONL 2316.75 and HVEs 2313.
Today's Economic Calendar
10:00 Richmond Fed Mfg.
10:00 State Street Investor Confidence Index
01:00 PM 5-Year Note Auction
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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