Outlook 06/28: As the big gathering kicks off in Osaka, Japan, U.S. stock index futures are in green, with the SP500 ahead by 7 points. Trade will be at the top of the agenda today, however, the most anticipated meeting between Trump and Xi will take place Saturday morning. Hopes are high for the two leaders to write the last chapter in their trade war, which has reverberated across the global economy.
/ESU19 Value: YVAH 2932 YPOC 2930 YVAL 2926 GAP 2931
/ES Plan: Yesterday market closed bullish (PBT 2945) and ON continues on that way, moving above Yesterday's value, so we've these options:
A) If market remains above LIS HVE 2936 with bullish internals, buy towards ONH 2939.75 HVEs 2943-2948 and GAP 2952.25
B) If market starts to move below 2936 with bearish internals, sell towards GAP 2931 ONL 2930 HVE 2924 and HVE-GAP 2918.
Tips: Volume is key. Yesterday slowdown action showed an example of that. Market tried to break out the trading range but volume didn't help. Market needs volume increasing to get a successful breakout.
Today's Economic Calendar
09:45 Chicago PMI
10:00 Consumer Sentiment
1:00 PM Baker-Hughes Rig Count
Questions via @verniman direct message (RTH) or email (After Close).
Glossary of terms
