Outlook 02/14: U.S. retail sales unexpectedly fell in December, posting the worst drop in nine years in a sign of slower economic momentum at year-end amid financial market turmoil and the government shutdown. The value of overall sales fell 1.2 percent from the prior month after a downwardly revised 0.1 percent increase in November, according to Commerce Department figures released Thursday after a four-week delay due to the shutdown. That missed all economist estimates in surveys that had called for a 0.1 percent gain.
/ESH19 Value: YVAH 2758 YPOC 2752 YVAL 2749 GAP 2749.75
/ES Plan: Yesterday market closed bullish but overnight looks more bearish, moving below previous range, so we've these options:
A) If market remains below YLOD-HVE 2743 with bearish internals, sell towards LVN 2734 and HVE 2728-2719-2712.
B) If market starts to move above 2743 with bullish internals, buy towards GAP 2749.75 HVE 2758 and ONH 2763.
Today's Economic Calendar
10:00 Business Inventories
10:30 EIA Natural Gas Inventory
11:00 Fed's Harker Speech
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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Glossary of terms
