Outlook 05/06: U.S. stock index futures look balanced after an equity selloff takes hold following a tweet from President Trump that threatened to upend trade talks with China. With discussions moving "too slowly," tariffs on $200B worth of China-made goods will rise from 10% to 25% by the end of this week, and a similar levy on another $325B could be placed on China imports "shortly."
/ESM19 Value: YVAH 2949 YPOC 2944 YVAL 2934 GAP 2947.50
/ES Plan: On Friday market closed bullish but overnight looks more balanced after Sunday's bearish reopening, so we've these options:
A) If market remains above LIS HVE 2900 with bullish internals, buy towards HVEs 2907-2913-2918-2924 and YVAL 2934.
B) If market starts to move below LIS 2900 with bearish internals, sell towards ONL-GAP-HVE 2883 and HVEs 2878-2873.
Quotes: “Trader has to reverse what you might call his natural impulses. Instead of hoping he must fear; instead of fearing he must hope. He must fear that his loss may develop into a much bigger loss, and hope that his profit may become a big profit.” Jesse Livermore
Today's Economic Calendar
09:30 Fed's Harker speech
12:30 PM TD Ameritrade IMX
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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