Outlook 02/08: U.S. stock futures point to additional losses after President Trump said yesterday that he would not meet with China's President Xi before a March 1 deadline set by the two countries to achieve a trade deal. The remarks, which followed comments from White House economic advisor Larry Kudlow that a "pretty sizable distance" remained between the two sides, dampened growing optimism for a trade deal in the short term and weighed on stocks.
/ESH19 Value: YVAH 2706 YPOC 2696 YVAL 2687 GAP 2704.75
/ES Plan: Yesterday market closed bearish leaving a bimodal profile (LIS-HVE 2704) and overnight inventory is still bearish, moving within previous value, so we've these options:
A) If market remains below HVE 2692 with bearish internals, be a seller towards ONL 2687 HVE 2684 and LVNs 2674-2667.
B) If market starts to move above 2692 with bullish internals, buy towards LVN 2700 ONH-HVE-GAP 2704 and HVEs 2712-2719.
Today's Economic Calendar
1:00 PM Baker-Hughes Rig Count
1:15 PM Fed's Daly Speech
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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