Outlook 01/08: U.S. futures appear to be looking at the glass half full again as the world's two largest economies conclude talks to resolve their ongoing trade dispute. U.S. Commerce Secretary Wilbur Ross has predicted Beijing and Washington could reach a trade deal that "we can live with," while China's foreign ministry said it had "good faith" to work with the U.S. Ten-year U.S. Treasury yields have recovered on the news, with crude and the dollar also posting gains.
/ESH19 Value: YVAH 2567 YPOC 2556 YVAL 2539 GAP 2550.25
/ES Plan: Yesterday market closed bullish (PBT 2587) and overnight looks more bullish, moving above previous value, so we've these options:
A) If market remains above YVAH 2567 with bullish internals, be a buyer towards ONH-HVE 2574 HVE-PBT 2586-2587 and HVE-PBT 2620.
B) If market starts to move below 2567 with bearish internals, sell towards HVE 2562 GAP 2550.25 ONL 2549.25 and HVE 2539-2508.
Today's Economic Calendar
10:00 Job Openings and Labor Turnover Survey
1:00 PM Results of $38B, 3-Year Note Auction
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
Questions via @verniman direct message (RTH) or email (After Close).
Glossary of terms
