Outlook 04/30: U.S. stock index futures are pointing to a muted open for a second consecutive session despite a jump in U.S. consumer spending seen Monday that propelled U.S. shares to a record high. The SP500 topped its intraday record with a session high of 2,949.52 (Last record of 2,940.91 set on Sept. 21). Investor jitters have calmed since the beginning of the year as the U.S. Federal Reserve turned dovish. Traders will see the next stage in that process today as the central bank begins its next two-day meeting.
/ESM19 Value: YVAH 2950 YPOC 2945 YVAL 2943 GAP 2942.50
/ES Plan: Yesterday market closed balanced at record highs but overnight looks slight bearishd, moving below yesterday's value, so we've these options:
A) If market remains below LIS YVAL 2943 with bearish internals, sell towards ONL 2935.75 VPOC 2932 and HVE 2924.
B) If market starts to move above 2943 with bullish internals, buy towards ONH 2945.50 YVAH 2950 and ATH 2951.50
Quotes: “Cut your losses. Cut your losses. Cut your losses. Then maybe you have a chance.” – Ed Seykota
Today's Economic Calendar
09:45 Chicago PMI
10:00 Consumer Confidence
10:00 Pending Home Sales
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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