Outlook 02/26: US stocks futures down overnight, as traders sought clarity on the U.S.-China trade front a day after President Trump postponed a tariff deadline. Federal Reserve Chairman Jerome Powell heads to Capitol Hill to testify before the Senate Banking Committee today. It is expected that Powell will reiterate his “patient” monetary policy path this year and outline the Fed’s plans for shrinking the central bank’s balance sheet.
/ESH19 Value: YVAH 2812 YPOC 2809 YVAL 2802 GAP 2797
/ES Plan: Yesterday market closed leaving a bullish imbalance (PBT 2822) but overnight has broken HVE 2796 support, moving below previous range, so we've these options:
A) If market remains below YLOD 2795 with bearish internals, sell towards HVE 2784 ONL 2783.25 GAP 2774.25 and HVE 2764.
B) If market starts to move above 2795 with bullish internals, become a buyer towards HVEs 2808-19 PBT 2822 LVN 2825 and HVE 2842.
Today's Economic Calendar
10:00 Powell monetary policy report
10:00 Consumer Confidence
10:00 Richmond Fed Mfg.
01:00 PM 7-Year Note Auction
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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