Outlook 09/20: U.S. stock futures point to a higher open ahead of the Friday session, with weekly results hanging in the balance. China cut its new one-year benchmark lending rate for the second month in a row, taking a more accommodative stance due to the U.S. trade war.
/ESZ19 Value: YVAH 3022 YPOC 3015 YVAL 3009 GAP 3008.25
/ES Plan: Yesterday market closed bearish but overnight looks slight bullish, moving within yesterday's value, so:
A) If market remains above LIS 3011 with bullish internals, buy towards HVE 3018 ATH 3029 and PBT 3042.
B) If market moves below LIS 3011 with bearish internals, sell towards HVE 3007 VPOC 3000 and HVE 2989.
Reminder: Today is Quadruple Witching, a date that entails the simultaneous expiry of stock index futures, stock index options, stock options and single stock futures. Much of the action surrounding futures and options on quadruple witching days is focused on offsetting, closing or rolling out positions, as well as arbitrage trades, which tends to stir up bursts of trading volume. Be cautious and reduce your risk/size.
Today's Economic Calendar
11:20 Fed's Rosengren Speech
01:00 PM Baker-Hughes Rig Count
01:00 PM Fed's Kaplan Speech
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