Outlook 04/11: U.S. stock futures are now up as Wall Street sees some trade optimism following yesterday's release of Fed minutes, which reaffirmed the central bank's patience regarding future rate hikes. The timing of a U.S.-China trade agreement remains unclear, but the two countries have "pretty much agreed on an enforcement mechanism," U.S. Treasury Secretary Steve Mnuchin declared. "If we can complete this agreement, this will be the most significant changes to the economic relationship between the U.S. and China in really the last 40 years," Mnuchin added, saying he has another call scheduled this morning with Chinese Vice Premier Liu He.
/ESM19 Value: YVAH 2891 YPOC 2888 YVAL 2885 GAP 2894.75
/ES Plan: Yesterday market closed balanced but overnight looks more bullish (GBT 2904), moving above Yesterday's range, so today options:
A) If market remains above LIS-YHOD 2896 with bullish internals, buy towards ONH 2900 GBT 2904 and HVE 2907.
B) If market starts to move below 2896 with bearish internals, sell towards ONL 2890 HVE 2883 and GAP 2882.75
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
09:30 Richard Clarida Speech
09:35 Fed's Williams Speech
09:40 Fed's Bullard Speech
10:30 EIA Natural Gas Inventory
01:00 PM 30-Year Note Auction
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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