Outlook 12/20: Stocks fell across the globe overnight after the FOMC lifted interest rates for the fourth time this year, while Fed Chair Jerome Powell downplayed implications of market volatility and said the central bank would continue its balance-sheet runoff. The SP500 is now 14.5% below its September 20 record high.
/ESH19 Value: YVAH 2580 YPOC 2570 YVAL 2515 GAP 2504
/ES Plan: Yesterday market closed bearish but overnight look slight bullish (GBT 2541) moving within previous value, into 2508-2484 range, so we've these options:
A) If market remains below HVE 2508 with bearish internals, be a seller towards GAP 2504 HVE 2484 ONL 2476.25 and LVN 2456.
B) If market starts to move above 2508 with bullish internals, buy towards ONH-HVE 2518-2520 HVEs 2529-2541 and YVAH 2580.
Tips: Pace of the Roll 80%. Tomorrow Friday Quadruple Expiration.
Today's Economic Calendar
10:00 Leading Indicators
10:30 EIA Natural Gas Inventory
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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