Outlook 03/29: U.S. stocks indexes are finishing the first quarter on a strong note, with SP500's 12.3% gain, on its best quarterly gain in nearly a decade and its finest start to the year since 1998. "We had a very productive working dinner last night," Treasury Secretary Steven Mnuchin said as he left his hotel to meet with Chinese Vice Premier Liu He for a second day of trade talks. Bond yields are also continuing to move higher after a prolonged slide on worries about the global economic outlook.
/ESM19 Value: YVAH 2822 YPOC 2819 YVAL 2810 GAP 2821.25
/ES Plan: Yesterday market closed bullish (PBT 2843) and overnight still looks bullish but shows a bimodal profile (LIS 2829), so these're the options for Today's session:
A) If market remains above LIS 2830 with bullish internals, buy towards HVEs 2837-2842 PBT 2843 and HVEs 2846-2850.
B) If market starts to move below 2830 with bearish internals, sell towards GAP 2821.25 ONL 2820.25 and HVEs 2819-2814.
Tips: Trade the first 2 hours for liquidity. If you get a decent success rate in the morning, trading at afternoon is totally unnecessary. Less is more.
Today's Economic Calendar
09:25 Fed's Williams Speech
09:45 Chicago PMI
10:00 New Home Sales
10:00 Consumer Sentiment
10:30 Fed's Kaplan Speech
12:05 PM Randal Quarles Speech
12:45 PM Randal Quarles 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.
Questions via @verniman direct message (RTH) or email (After Close).
Glossary of terms
