Outlook 06/04: U.S. equity futures are now up by 0.6% following yesterday's slide into correction territory for the Nasdaq Composite. While U.S. lawmakers are gearing up for what could be lengthy investigations into the biggest and most influential companies in the tech sector, the probes are at their early stages, based on the published accounts, so no significant fines, forced company breakups or changes in business practices are expected anytime soon. The dollar also steadied overnight, while Treasuries were set to halt a one-week rally.
/ESM19 Value: YVAH 2751 YPOC 2740 YVAL 2735 GAP 2750.25
/ES Plan: Yesterday market closed bearish but overnight looks more bullish, moving above Yesterday's value, so today's options:
A) If market remains above LIS HVE 2765 with bullish internals, buy towards ONH 2769.25 and HVEs 2774-2784-2789.
B) If market starts to move below 2765 with bearish internals, sell towards HVE 2751 ONL-LVN 2744 and HVE 2738.
Tips: Algos are there and they are the ones who provide liquidity. Why would anyone be scared of liquidity. Few people tried to code algos based on Profile levels and they failed as Market Profile is dynamic approach and not a rule based approach that can be coded efficiently.
Today's Economic Calendar
09:45 Fed's Evans speech
09:55 Jerome Powell speech
10:00 Factory Orders
03:45 PM Fed's Reserve Gov. Lael Brainard speech
06:45 PM Fed's Kaplan speech
Questions via @verniman direct message (RTH) or email (After Close).
Glossary of terms
