Outlook 05/20: U.S. stocks index futures are down again after the Trump administration added the Chinese company Huawei to a trade blacklist last week. Premarket movement of Qualcomm -3.1%, Intel -1.8%; Xilinx -2.7%, STMicroelectronics -7.4%, Micron -3.7%. Google started the trade suspensions over the weekend, leaving Huawei with access only to the open-source version of Android.
/ESM19 Value: YVAH 2875 YPOC 2861 YVAL 2857 GAP 2862.50
/ES Plan: On Friday market closed bearish (PBT 2834) and overnight continues on that way (GBT 2815), moving below Friday's range, so we've these options:
A) If market remains below LIS-LVN 2843 with bearish internals, sell towards PBT 2834 LVN 2825 and HVEs 2819-2814.
B) If market starts to move above 2843 with bullish internals, buy towards HVE 2850 YVAL-HVE 2857 and GAP 2862.50
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
9:30 Fed's Harker Speech
1:00 PM Fed's Williams Speech
1:00 PM Fed's Clarida Speech
7:00 PM Jerome Powell Speech
Questions via @verniman direct message (RTH) or email (After Close).
Glossary of terms
