Outlook 09/19: U.S. stock index futures moves higher, after ending roughly flat on Wednesday as traders digested a 25 bps rate cut from a divided Federal Reserve. While the "moderate" policy seemed to disappoint markets, Jerome Powell highlighted that "if the economy does turn down, then a more extensive sequence of rate cuts could be appropriate." U.S. and Chinese deputy trade negotiators are also set to resume face-to-face talks today for the first time in nearly two months, aiming to lay the groundwork for high-level discussions in early October.
/ESZ19 Value: YVAH 3011 YPOC 3000 YVAL 2995 GAP 3009
/ES Plan: Yesterday market closed bullish (PBT 3019) and overnight continues on that way, moving above yesterday's value, so:
A) If market remains above LIS YVAH 3011 with bullish internals, buy towards HVE 3018 PBT 3019 ATH 3029 and PBT 3042.
B) If market moves below LIS 3011 with bearish internals, sell towards YPOC 3000 YVAL 2995 ONL 2991.25 and HVE 2983.
Quotes: “Don't ever make the mistake of believing that market success has to come to you fast. Trade small, stay in the game, persist, and eventually, you'll reach a satisfying level of proficiency.” Yvan Byeajee
Today's Economic Calendar
10:00 Existing Home Sales
10:00 Leading Indicators
10:30 EIA Natural Gas Inventory
04:30 PM Money Supply
04:30 PM Fed Balance Sheet
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