Outlook 01/18: Responding to reports of a possible trade detente between the U.S. and China, stocks across the globe are continuing their climb higher. On Thursday, the WSJ quoted Treasury Secretary Steven Mnuchin as saying Washington could ease tariffs on Beijing, although the suggestion faced pushback from U.S. Trade Representative Robert Lighthizer. Earnings season remains in full swing, and investors today will also be watching figures on U.S. consumer sentiment.
/ESH19 Value: YVAH 2635 YPOC 2622 YVAL 2611 GAP 2635.75
/ES Plan: Yesterday market closed balanced but overnight looks more bullish, moving above previous range, so, we've these options:
A) If market remains above YHOD 2645 with bullish internals, become a buyer towards ONH 2649.75 HVE-PBT 2652 and LVNs 2666-2673.
B) If market starts to move below YHOD 2645 with bearish internals, sell towards ONL 2632.75 LVN 2626 HVE 2620 and LVNs 2605-2595.
Today's Economic Calendar
09:15 Industrial Production
10:00 Consumer Sentiment
01:00 PM Baker-Hughes Rig Count
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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