Outlook 05/16: U.S. stocks index futures are on edge once again, flipping between red and green overnight, as U.S. President Trump signed an executive order declaring a national emergency and barring U.S. companies from using telecommunications equipment made by firms posing a national security risk, paving the way for a ban on doing business with China's Huawei Technologies Co.
/ESM19 Value: YVAH 2860 YPOC 2852 YVAL 2833 GAP 2855.25
/ES Plan: Yesterday market closed bullish (PBT 2889) and overnight action continues on that way (GBT 2889), moving above yesterday's range, so we've these options:
A) If market remains above LIS YHOD 2860 with bullish internals, buy towards ONH 2868 and HVEs 2873-2883-2889.
B) If market starts to move below 2860 with bearish internals, sell towards HVE 2850 ONL 2840.50 and LVN 2825.
Tips: You can plan anything but execution is key when to get in and when to get out. Am I good during volatility or during range bound action? What times I'm profitable trading: 1st two hours/European close/Lunch end/Last half hour? Know your strengths and weakness.
Today's Economic Calendar
10:30 EIA Natural Gas Inventory
12:05 PM Fed's Kashkari Speech
04:30 PM Money Supply
04:30 PM Fed Balance Sheet
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Glossary of terms
