Outlook 01/11: U.S. stock index futures inched down overnight after Jerome Powell reiterated the Fed would be patient about interest rate hikes, but said the central bank's balance sheet would be "substantially smaller." Powell also said President Trump hasn't asked for a meeting despite months of attacks against him. Powell also said he is 'very worried' about U.S. debt and that an extended govt. shutdown could start to show in economic data.
/ESH19 Value: YVAH 2599 YPOC 2591 YVAL 2576 GAP 2593.75
/ES Plan: Yesterday market closed bullish but overnight looks slight bearish, moving within previous value, so we've these options:
A) If market remains below HVE 2586 with bearish internals, become a seller towards YVAL 2576 HVE 2562 and HVE 2539.
B) If market starts to move above HVE 2586 with bullish internals, buy towards ONH 2597.75 YVAH 2599 and PBT-HVE 2620.
Today's Economic Calendar
1:00 PM Baker-Hughes Rig Count
2:00 PM Treasury Budget
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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Glossary of terms
