Outlook 06/27: After solid overnight gains in Asia, U.S. futures are struggling to remain in the green zone. President Trump further announced that a bilateral meeting with his Chinese counterpart could lead to a trade deal, but warned that he was prepared to impose tariffs on virtually all remaining Chinese imports if talks once again faltered. President Xi plans to present a set of terms the U.S. should meet before China is ready to settle their market-rattling trade confrontation. Beijing is insisting that Washington remove its ban on the sale of American technology to Huawei.
/ESU19 Value: YVAH 2931 YPOC 2927 YVAL 2920 GAP 2918
/ES Plan: Yesterday market closed balanced but overnight looks slight bearish, moving within Yesterday's value, so these're the options:
A) If market moves below LIS HVE 2924 with bearish internals, sell towards HVE 2918 ONL 2914.75 and HVE 2908.
B) If market moves above LIS HVE 2924 with bullish internals, buy towards YVAH 2931 ONH-HVE 2936 and HVE 2943.
Tips: One of the challenges of trading is to have enough patience to wait for a final target to be reached and not jump before because you feel it would never happen. You just have to put in the trade and let the market decide the outcome. Use a time stop like the half hour deadline.
Today's Economic Calendar
10:00 Pending Home Sales
10:30 EIA Natural Gas Inventory
11:00 Kansas City Fed Mfg Survey
01:00 PM 7-Year Note Auction
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