Outlook 05/28: U.S. stock index futures are pointing to a balanced open following Memorial Day weekend, as caution prevailed over the fate of trade talks between Washington and Beijing. On Monday, President Trump said the U.S. was "not ready" to make a deal with China, before adding that he expected one "sometime in the future." Asia stocks booked gains, however, as investors bet on fresh stimulus from Beijing following consecutive months of dismal economic data.
/ESM19 Value: YVAH 2837 YPOC 2829 YVAL 2825 GAP 2831.75
/ES Plan: On Friday market closed balanced and overnight looks bimodal (LIS 2830) moving within Friday's value, so options are:
A) If market remains above LIS LVN 2830 with bullish internals, buy towards HVE-YVAH 2837 ONH 2840 LVN 2843 and HVEs 2850-2857.
B) If market starts to move below LIS 2830 with bearish internals, sell towards HVE-YVAL 2825 ONL 2822 HVE-GAP 2819 and HVE 2814.
Tips: 3 common 'too' mistakes: 1. Trade 'too early'. Avoid the initial battle. Let's market settle down a bit. 2. Trade 'too much'. Avoid overtrading. Don't force trades. 3. Trade 'too tight'. Don't use hard tight stops, replace it by exit according to order flow and profile structure.
Today's Economic Calendar
10:00 Consumer Confidence
10:30 Dallas Fed Manufacturing Survey
11:30 2-Year Note Auction
01:00 PM 5-Year Note Auction
Questions via @verniman direct message (RTH) or email (After Close).
Glossary of terms
