Outlook 12/13: U.S. stock index futures look weaker after European Central Bank (ECB) announced it would formally bring an end to its multi-trillion bond-buying program at the end of the month, despite growing concerns about a possible economic slowdown and increasing economic risks. It marks a historic moment for the ECB, as President Mario Draghi dismantles one of his most contentious policies.
/ESZ18 Value: YVAH 2680 YPOC 2666 YVAL 2661 GAP 2651.25
/ES Plan: Yesterday market closed balanced but overnight looks more bearish, moving below previous value, into 2652-2684 range, so:
A) If market remains above YVAL 2661 with bullish internals, become a buyer towards LVN 2666 ONH 2670 YVAH 2680 and HVE 2684.
B) If market starts to move below YVAL 2661 with bearish internals, become a seller towards HVE 2652 GAP 2640.50 and HVE 2620.
Rollover starts. Pace of the Roll now is around 20%. I'm still quoting /ESH20 until /ESM20 increases to equal volume of March. Usually rollover days show big divergences between Stocks (Internals) vs. Futures, so I suggest to stay aside. Avoid overtrading. Just watch.
Today's Economic Calendar
10:30 EIA Natural Gas Inventory
01:00 PM 30-Year Note Auction
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
Questions? Just ask via email or twitter @verniman direct message.
Glossary of terms
