Outlook 01/24: U.S. Stocks aimed for positive opening, but turn negative after Commerce Secretary Wilbur Ross said the U.S. is "miles and miles" from a trade deal with China. Beijing and Washington try to resolve their trade disputes under a tariff cease-fire that ends March 2.
/ESH19 Value: YVAH 2645 YPOC 2638 YVAL 2623 GAP 2638.25
/ES Plan: Yesterday market closed balanced and overnight looks bimodal (LIS 2640), moving within previous value, so we've these options:
A) If market remains below LIS 2640 with bearish internals, sell towards ONL 2631 YVAL 2623 HVEs 2620-2611-2606 and LVN 2595.
B) If market starts to move above LIS 2641 with bullish internals, buy towards ONH 2645.50 HVE 2652 GAP 2671.50 and HVE 2684.
Today's Economic Calendar
09:45 PMI Composite Flash
10:00 Leading Indicators
10:30 EIA Natural Gas Inventory
11:00 Kansas City Fed Mfg Survey
11:00 EIA Petroleum Inventories
04:30 PM Money Supply
04:30 PM Fed Balance Sheet
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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