Outlook 08/27: U.S. stock index futures indicated a slightly higher open Tuesday as investors monitor developments in trade relations between Washington and Beijing. Following the Group of Seven (G-7) summit in Biarritz, France on Monday, President Donald Trump predicted a trade deal with China, citing economic pressure on Beijing, while China also called for a resolution to the ongoing dispute. However, Trump’s claims at the G-7 that China called top U.S. trade negotiators to reignite discussions has been called into question by Hu Xijin, editor-in-chief of the Global Times, who said in a tweet that negotiators from both countries did not talk over the phone.
/ESU19 Value: YVAH 2878 YPOC 2869 YVAL 2860 GAP 2883.25
/ES Plan: Yesterday market closed bullish, and overnight continues on that way, moving above yesterday's range, so today's options:
A) If market remains above LIS HVE 2889 with bullish internals, buy towards ONH 2896.50 and HVEs 2907-2918-2936.
B) If market moves below LIS 2889 with bearish internals, sell towards GAP 2883.25 ONL 2869.25 and HVEs 2825-2815.
Quotes: “In this business if you’re good, you’re right six times out of ten. You’re never going to be right nine times out of ten.” Peter Lynch
Today's Economic Calendar
10:00 Consumer Confidence
10:00 Richmond Fed Mfg.
01:00 PM 2-Year Note Auction
Questions via @verniman direct message (RTH) or email (After Close).
