Outlook 08/08: U.S. futures markets are attempting to stabilize after China sets yuan daily reference rate at 7.0039 per dollar, stronger than expected. U.S. stocks whipsawed yesterday, with the SP500 swinging more than 70 points at its widest span, while Chicago Fed President Charles Evans said trade headwinds could justify additional rate cuts.
/ESU19 Value: YVAH 2881 YPOC 2861 YVAL 2844 GAP 2880
/ES Plan: Yesterday market closed balanced but overnight looks more bullish, moving above yesterday's range, so today's options:
A) If market remains above LIS YHOD 2892 with bullish internals, buy towards ONH 2900.50 and HVEs 2907-2918-2936.
B) If market remains below LIS 2892 with bearish internals, sell towards GAP 2880 ONL 2870.50 and HVEs 2867-2844.
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
10:00 Wholesale Trade
10:30 EIA Natural Gas Inventory
01:00 PM 30-Year Note Auction
04:30 PM Money Supply
04:30 PM Fed Balance Sheet
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