Outlook 02/07: U.S. stocks futures fell with European shares after a mixed session in Asia as signs emerged that the global rally in equities is stalling. Investors face a lack of fresh impetus to extend the 2019 rally in risk assets ahead of meetings between China and the U.S. to discuss trade next week. In Washington, there was little progress on the domestic front with the deadline approaching for Congress and the White House to reach a deal on keeping the government open.
/ESH19 Value: YVAH 2734 YPOC 2731 YVAL 2728 GAP 2729.75
/ES Plan: Yesterday market closed balanced but overnight inventory is bearish on a bimodal profile (LIS 2715), moving below previous range, so we've these options:
A) If market remains below LIS 2715 with bearish internals, be a seller towards ONL 2708.75 HVE 2704 LVN 2700 and HVE 2692.
B) If market starts to move above LIS 2715 with bullish internals, buy towards HVEs 2719-2728 GAP 2729.75 and LVN-YVAH 2734.
Today's Economic Calendar
09:15 Fed's Kaplan Speech
09:30 Fed’s Clarida Speech
10:30 EIA Natural Gas Inventory
01:00 PM 30-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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