Outlook 08/13: U.S. stock index futures are under pressure for yet another day as risk-off sentiment takes hold of the markets. Hong Kong riots are spiraling, the PBOC set the yuan weaker than the previous session and there are fears of another debt crisis in Argentina. Meanwhile, U.S. yield curve at its flattest level since 2007. The 30yr rate tumbled as much as 14 bps on Monday to close in on its record-low of 2.08% from July 2016, while the 10yr note fell 10 bps to 1.65%, and at one point was just 5 bps more than 2yr notes.
/ESU19 Value: YVAH 2907 YPOC 2899 YVAL 2884 GAP 2880
/ES Plan: Yesterday market closed balanced but overnight looks more bearish (PBT 2859), moving below yesterday's value, so today's options:
A) If market remains below LIS YLOD 2872 with bearish internals, sell towards ONL 2866.75 HVE 2857 LVN 2844 and HVE 2815.
B) If market moves above LIS YLOD 2872 with bullish internals, buy towards GAP 2880 ONH 2889.50 HVE 2907 and GAP 2919.
Quotes: “Learn to take losses. The most important thing in making money is not letting your losses get out of hand.” Marty Schwartz
Today's Economic Calendar
No economic data scheduled for today
Questions via @verniman direct message (RTH) or email (After Close).
