Outlook 04/12: Earnings season kicks off in earnest today, with major U.S. banks (JPMorgan, Wells Fargo and PNC Financial) set to get the ball rolling before the opening bell. SP500 futures are up 17 points, moving above 2900 key level. While some analysts see an earnings recession ahead, that may not affect equity prices as much as one would think.
/ESM19 Value: YVAH 2897 YPOC 2895 YVAL 2889 GAP 2891.50
/ES Plan: Yesterday market closed bullish and overnight continues on that way, moving above Yesterday's range, so today options:
A) If market remains above HVE 2907 with bullish internals, buy towards ONH 2911.75 and HVEs 2913-2918-2936.
B) If market starts to move below 2907 with bearish internals, sell towards HVE 2900 GAP-ONL 2891.50-2890.75
Quotes: “Don’t take action with a trade until the market, itself, confirms your opinion. Being a little late in a trade is insurance that your opinion is correct. In other words, don’t be an impatient trader.” Jesse Livermore
Today's Economic Calendar
Jerome Powell Speech
10:00 Consumer Sentiment
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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