Outlook 05/15: U.S. Stocks Futures are down after China reported surprisingly weaker growth in retail sales and industrial output for April on Wednesday, adding pressure on Beijing to roll out more stimulus as the trade war with the United States escalates. U.S. retail sales fell 0.2% in April. Economists polled by Dow Jones expected an increase of 0.2%. Stock futures fell to their session lows following the data release.
/ESM19 Value: YVAH 2850 YPOC 2848 YVAL 2828 GAP 2839.50
/ES Plan: Yesterday market closed balanced but overnight action looks more bearish, moving belown yesterday's value, so we've these options:
A) If market remains below LIS LVN 2825 with bearish internals, sell towards ONL 2817.50 and HVEs 2814-2808-2802-2796.
B) If market starts to move above LIS 2825 with bullish internals, buy towards HVEs 2837-2842-2846-2847 and ONH 2848.50
Quotes: “Don’t take action with a trade until the market, itself, confirms your opinion. Being a little late in a trade is insurance that your opinion is correct. In other words, don’t be an impatient trader.” Jesse Livermore
Today's Economic Calendar
09:30 Randal Quarles Speech
10:00 Atlanta Fed's Business Inflation Expectations
10:00 Business Inventories
10:00 NAHB Housing Market Index
10:30 EIA Petroleum Inventories
01:00 PM Fed's Barkin Speech
Questions via @verniman direct message (RTH) or email (After Close).
Glossary of terms
