Outlook 07/25: U.S. stock index futures track higher with the SP500 printing new record high. Another earnings busy day. Tech giants Alphabet and Amazon and coffee chain Starbucks take center stage after the market close. Alphabet’s second-quarter results will be closely watched, after the company shocked investors when it reported sharp revenue deceleration in the first quarter.
/ESU19 Value: YVAH 3013 YPOC 2998 YVAL 2999 GAP 3021.50
/ES Plan: Yesterday market closed balanced but Overnight auction looks bullish, moving above yesterday's range, so these're today's options:
A) If market remains above LIS YHOD 3022 with bullish internals, buy towards ATH 3027.75 and PBT 3012.
B) If market moves below 3022 with bearish internals, sell towards ONL 3017.75 YVAH 3013 and HVE 3006.
Tips: Watching at the bigger picture, new ATH leaves a poor high without a decent excess on it. Market needs an excess high to call an end, and new ATH has been printed ON and should be revisited at RTH.
Today's Economic Calendar
10:30 EIA Natural Gas Inventory
11:00 Kansas City Fed Index
01:00 PM 7-Year Note Auction
04:30 PM FED Balance Sheet
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