Outlook 02/05: U.S. stocks futures advanced on Tuesday, taking their cue from a rally in Europe after strong earnings from oil giant BP. The relative calm in markets belies an undercurrent of uncertainty as trade talks between U.S. and China remain unresolved and America lurches toward another government shutdown. Investors will be watching President Trump’s second State of the Union address later for any more signs of political rancor or clues on the outlook for foreign trade.
/ESH19 Value: YVAH 2716 YPOC 2704 YVAL 2699 GAP 2721
/ES Plan: Yesterday market closed leaving a multimodal profile and overnight looks bimodal, moving above previous range, so we've these options:
A) If market remains above YHOD 2725 with bullish internals, buy towards HVE 2728 ONH 2728.25 and LVNs 2734-2743.
B) If market starts to move below 2725 with bearish internals, sell towards HVE 2719 ONL 2716.25 and HVE 2712-2704.
Today's Economic Calendar
09:45 PMI Services Index
10:00 ISM Non-Manufacturing Index
01:00 PM 3-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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