Outlook 12/04: U.S. stock futures slipped early Tuesday morning as investors said the U.S.-China trade truce lacked details. The rapprochement between President Trump and Xi Jinping fired up markets on Monday, but skepticism crept into investing sentiment overnight, weighing on equity markets. None of the commitments that U.S. officials said had been given by China were agreed to in writing, while there was initial confusion on when the three-month negotiating window would start.
/ESZ18 Value: YVAH 2794 YPOC 2788 YVAL 2779 GAP 2791
/ES Plan: Yesterday market closed leaving a bearish imbalance but Overnight looks more bullish, moving within previous value, into 2796-2784 range, so we've these options:
A) If market remains above HVE 2784 with bullish internals, become a buyer towards ONH 2790.50 GAP 2791 and HVEs 2796-2808.
B) If market starts to move below 2784 with bearish internals, become a seller towards ONL 2767.25 GAP 2764.25 and HVE 2758.
Note: U.S. stock exchanges, including NYSE and Nasdaq, will close Wednesday to honor the memory of former President George H.W. Bush, who passed away late Friday at the age of 94. The last time U.S. financial markets had such a closure was in 2007 after the death of former President Gerald Ford. SIFMA and CME Group confirmed whether bond, futures and options markets will also suspend trading on Dec. 5.
Today's Economic Calendar
08:55 Redbook Chain Store Sales
10:00 Fed's Williams Speech
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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