Outlook 04/02: After starting off April with a bang, U.S. stock index futures are pausing for breath, with the SP500 now only about 2% from its old historic closing high of 2930. Stabilizing manufacturing activity in both the U.S. and China helped the advance, although some Brexit fatigue has caught on as investors consolidate gains. The 10-Year Treasury yield is ticking lower, down 2 bps to 2.47%, ahead of durable goods orders and auto sales figures in the U.S.
/ESM19 Value: YVAH 2867 YPOC 2860 YVAL 2857 GAP 2871
/ES Plan: Yesterday market closed balanced and overnight profile looks bimodal (LIS 2870), moving above yesterday's value, so these're the options for Today's session:
A) If market remains above LIS 2870 with bullish internals, buy towards ONH 2873.75 and HVEs 2878-2883-2900.
B) If market starts to move below LIS 2870 with bearish internals, sell towards ONL 2864.50 and HVEs 2857-2850.
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
No data scheduled during NYSE hours
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).
Glossary of terms
