Outlook 12/06: It's another dark day for stocks across the globe as Canadian officials arrested Huawei CFO Meng Wanzhou for allegedly violating U.S. sanctions with Iran. Despite the arrest of Huawei CFO, the news raises fresh doubts over a 90-day trade truce struck between President Trump and Xi Jinping, feeding fears of a fresh flare-up in tensions between the world's two largest economies.
/ESZ18 Value: YVAH 2758 YPOC 2705 YVAL 2696
/ES Plan: On Tuesday market closed leaving a bearish imbalance (PBT 2620) and Overnight inventory is 100% short, moving below previous value, into 2684-2652 range, so we've these options:
A) If market remains below LVN 2666 with bearish internals, become a seller towards HVE 2652 ONL 2649.50 and HVE 2620.
B) If market starts to move above 2666 with bullish internals, become a buyer towards HVE 2684 LVN 2700 and ONH 2714.
Today's Economic Calendar
09:45 PMI Services Index
10:00 ISM Non-Manufacturing Index
10:00 Factory Orders
10:00 Quarterly Services Report
11:00 EIA Petroleum Inventories
12:15 PM Fed's Bostic: Economic Outlook
06:30 PM Fed's Williams Speech
06:45 PM Jerome Powell Speech
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
