Outlook 05/17: U.S. stocks index futures are down again after tough words on trade from Beijing suggested that while a potential U.S.-China deal could happen further into the future, its impact on the world economy would be far more immediate. The Communist Party's People's Daily used a front page commentary to evoke the patriotic spirit of past wars, saying its trade battle would never bring China down. Stocks in Shanghai fell 2.5%, while SP500 futures are off more than 20 points.
/ESM19 Value: YVAH 2892 YPOC 2887 YVAL 2873 GAP 2878.50
/ES Plan: Yesterday market closed bullish (PBT 2933) but overnight looks bearish, moving below yesterday's value, so we've these options:
A) If market remains below HVE 2857 with bearish internals, sell towards ONL 2853 HVE 2850-2841 and LVN 2825.
B) If market starts to move above 2857 with bullish internals, buy towards LVN 2867 HVE 2873 and ONH 2882.50
Basics: Key Levels come from volume profile (Past-Time). Executions come from order flow (Real-Time). Volume Profile shows cumulative order flow (Levels). Tape shows current order flow (Executions).
Today's Economic Calendar
10:00 Consumer Sentiment
10:00 Fed’s Clarida Speech
11:15 Fed's Williams Speech
01:40 PM Fed’s Clarida Speech
02:00 PM Fed's Williams Speech
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