Outlook 05/14: US Futures show a refreshing sea of green, with SP500 futures up 0.6%. Some optimism? President Trump has not ruled out the prospect of a trade accord being reached within weeks and said he was prepared to meet Chinese President Xi Jinping at the coming G20 summit in June.
/ESM19 Value: YVAH 2825 YPOC 2814 YVAL 2806 GAP 2806.75
/ES Plan: Yesterday market closed bearish but overnight action looks more bullish (GBT 2843), moving within yesterday's value, so we've these options:
A) If market remains above LIS YVAH 2825 with bullish internals, buy towards ONH 2831.50 and HVEs 2837-2842-2846-2847-2850-2857.
B) If market starts to move below LIS 2825 with bearish internals, sell towards HVEs 2819-2814-2808-2802 ONL 2799.75 and HVE 2796.
Tips: We're on high volatility days so your first trading rule is 'manage your risk'. Regardless of how much more money you could have made, you do realize that you just can not manage risk on this enviroment. When volatility rises and you see a thin order book, I recommend to stay aside until markets recover a 'normal' tradable regime.
Today's Economic Calendar
12:45 PM Fed's George speech
Questions via @verniman direct message (RTH) or email (After Close).
Glossary of terms
