Outlook 04/03: U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin are set to resume trade talks today with Chinese Vice Premier Liu He as global equities rally in response to positive statements surrounding the discussions. The Shanghai Composite closed up 1.2%, Europe is ahead 1% at midday and the SP500 is pointing to double-digit gap. American and Chinese officials are said to have negotiated 90% of the deal, but are still haggling over how to implement and enforce such an agreement.
/ESM19 Value: YVAH 2872 YPOC 2871 YVAL 2867 GAP 2867.25
/ES Plan: Yesterday market closed balanced but overnight looks bullish (GBT 2898), moving above yesterday's range, so these're the options for Today's session:
A) If market remains above LIS-HVE 2883 with bullish internals, buy towards ONH 2886.25 GBT 2898 and HVE 2900.
B) If market starts to move below LIS 2883 with bearish internals, sell towards HVEs 2878-2873 and ONL 2865.25
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
09:45 PMI Services Index
10:00 ISM Non-Manufacturing Index
10:30 EIA Petroleum Inventories
05:00 PM Fed's Kashkari speech
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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