Outlook 03/11: Coming off their worst week of 2019, U.S. stock futures are trading mixed ahead of the open. The Dow is flagging triple-digit declines as Boeing shares tumble, while the SP500 and Nasdaq futures are up 0.3%. Boeing shares plunged 10% premarket after China's aviation regulator grounded nearly 100 737 MAX 8 aircraft operated by its airlines, more than a quarter of the global fleet of the jets.
/ESM19 Value: YVAH 2740 YPOC 2733 YVAL 2728 GAP 2752
/ES Plan: On Friday market closed bearish but overnight auction looks more bullish, moving above Friday's range so we've these options:
A) If market remains above HVE-LIS 2758 with bullish internals, buy towards HVEs 2764-69 GAP 2771.25 and HVE 2775.
B) If market starts to move below YHOD 2757 with bearish internals, sell towards GAP 2752 and HVEs 2742-2736-2728.
Note: Pace of the Roll now is 60% so, I'm quoting /ESM19. Usually rollover week show big divergences between Stocks and Futures, so setups that usually work well, may fail completely.
Today's Economic Calendar
10:00 Business Inventories
01:00 3-Year Note Auction
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).
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