Outlook 03/01: U.S. stock index futures are ahead by 0.6% as the SP500 points to a major inflection point at 2800, a level widely watched by technical analysts and nearly everyone else. Data yesterday showed gross domestic product rising 2.9% in 2018, just shy of the Trump administration's 3% target. White House economic advisor Larry Kudlow also said Chinese trade talks between high-level officials had been "fantastic," and both sides were on track to reach a "remarkable, historic deal."
/ESH19 Value: YVAH 2791 YPOC 2788 YVAL 2784 GAP 2789
/ES Plan: Yesterday market closed balanced but overnight looks more bullish (GBT 2819), moving above previous range, so we've these options:
A) If market remains above HVE 2796 with bullish internals, buy towards ONH 2803.25 HVE-PBT 2808 HVE-GBT 2819 and HVE 2825.
B) If market starts to move below HVE 2796 with bearish internals, sell towards YVAH 2791 GAP 2789 HVE 2784 and ONL 2783.
Today's Economic Calendar
09:45 PMI Manufacturing Index
10:00 ISM Manufacturing Index
10:00 Consumer Sentiment
12:50 PM Fed's Bostic Speech
01:00 PM Baker-Hughes Rig Count
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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