Outlook 03/22: U.S. stock futures point to opening in the red, following the decline in Europe's stock markets as weaker-than-expected German manufacturing data fuels concern about global economic growth. The European Union decided to give the United Kingdom an extension on negotiating an exit from the EU - but it won't be a long reprieve if UK Prime Minister Theresa May can't get a win in Parliament.
/ESM19 Value: YVAH 2864 YPOC 2861 YVAL 2842 GAP 2863
/ES Plan: Yesterday market closed bullish but overnight looks bearish, moving within yesterday's value, so we've these options:
A) If market remains below LIS-HVE 2850 with bearish internals, sell towards ONL 2842.25 HVE 2837 LVN 2825 and HVEs 2819-2814-2808.
B) If market starts to move above HVE 2850 with bullish internals, buy towards HVE 2857 GAP 2863 ONH 2864.75 and HVEs 2867-2879-2883.
Tips: LIS remains valid during IB (1st RTH Hour), then VWAP-VAH-VAL-LVN come into play as dinamic Bull/Bear Line.
Today's Economic Calendar
09:45 PMI CompositeFlash
10:00 Existing Home Sales
10:00 Wholesale Trade
01:00 PM Baker-Hughes Rig Count
02:00 PM Treasury Budget
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
