Outlook 02/04: U.S. stock index futures held steady overnight with trading muted due to the closure of many Asian markets for the Lunar New Year. Wall Street ended mixed on Friday, as optimism from an unexpected surge in January U.S. job growth was offset by a weaker-than-expected outlook from Amazon. Investors now have their eyes set on Google, which will report Q4 figures after the bell.
/ESH19 Value: YVAH 2709 YPOC 2705 YVAL 2700 GAP 27046.75
/ES Plan: On Friday market closed balanced and overnight still looks balanced, moving within previous value, so we've these options:
A) If market remains below HVE 2704 with bearish internals, be a seller towards LVN 2700 ONL 2698 and HVEs 2692-2684.
B) If market starts to move above HVE 2704 with bullish internals, buy towards ONH 2709 HVE 2712 PBT 2719 and HVE 2728.
Note: Economic data postponed due government shutdown has yet to be released, and most of the backlog is scheduled to be released within the coming days, but no official dates have been set.
Today's Economic Calendar
10:00 Factory Orders
12:30 PM TD Ameritrade IMX
07:30 PM Fed's Mester speech
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
