Outlook 07/01: U.S. stock futures climbed early Monday morning following a trade truce reached between the U.S. and China at G-20 summit over the weekend. President Donald Trump said that he would hold off on slapping additional tariffs on the remaining $300 billion worth of Chinese goods and reverse the ban on Chinese tech giant Huawei. This will be a shortened trading week with markets closing early on Wednesday and closing on Thursday (Independence Day).
/ESU19 Value: YVAH 2943 YPOC 2938 YVAL 2933 GAP 2954.75
/ES Plan: On Friday market closed bullish and Sunday's overnight action continues on that way (GBT 2991), moving above Friday's range, so we've these options:
A) If market remains above LIS HVE 2975 with bullish internals, buy towards ONH 2980.50 PBT 2985 and GBT 2991.
B) If market starts to move below 2975 with bearish internals, sell towards ONL 2963 GAP 2954.75 and HVE 2948.
Tips: Overnight inventory is bullish leaving new All Time High (ATH). Remember that new highs printed overnight should be revisited at RTH.
Today's Economic Calendar
09:45 PMI Manufacturing Index
10:00 ISM Manufacturing Index
10:00 Construction Spending
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