Outlook 04/08: U.S. stock index futures are pointing to losses of 0.2% as investors take stock of last week's rally. Analysts have warned that the upcoming earnings season could be the first quarter of contracting corporate results since 2016, with U.S. banks set to get the ball. Monday comes with little on the economic. However, it’ll be a busy week ahead with the CPI report and the Federal Reserve’s FOMC minutes on Wednesday. Later this week, Q1 earnings season kicks off with quarterly results from Delta Air Lines, JPMorgan Chase, and Wells Fargo.
/ESM19 Value: YVAH 2896 YPOC 2894 YVAL 2891 GAP 2896.50
/ES Plan: On Friday market closed bullish (PBT 2906) but overnight looks bearish (GBT 2886), moving a few ticks above Friday's value, so:
A) If market remains above LIS-YVAL 2891 with bullish internals, buy towards ONH 2899.50 HVE 2900 and PBT 2906.
B) If market starts to move below 2891 with bearish internals, sell towards ONL 2889 GBT 2886 and HVEs 2883-78.
Tips: Be selective with your entries, be patience and wait for the best time on each hour, to join the fuel of big money. Usually, every half hour the big money starts a new sequence. Take advantage of that impulse.
Today's Economic Calendar
10:00 Factory Orders
12:30 PM TD Ameritrade IMX
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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