Outlook 09/23: U.S. stock futures didn't register much movement, as Chinese trade officials cut short their trip to the U.S. on Friday, but described the discussions as "constructive." The New York Federal Reserve will offer up to $75B a day in repurchase agreements over the next three weeks in an effort to prevent a spike in short-term interest rates. In addition, it will offer three 14-day "repo" operations of at least $30B each. Banks have struggled in recent days to find the cash needed to meet reserve requirements.
/ESZ19 Value: YVAH 3018 YPOC 3014 YVAL 2997 GAP 2989.25
/ES Plan: Last session market closed bearish and overnight continues on that way (PBT 2972), moving below Friday's value, so:
B) If market moves below LIS HVE 2989 with bearish internals, sell towards ONL 2982 HVE 2980 PBT-HVE 2972 and LVN 2963.
A) If market moves above LIS 2989 with bullish internals, buy towards YVAL 2997 HVE 3007 ONH 3008.25 and YVAH-HVE 3018.
Quotes: "When you really believe that trading is simply a probability game, concepts like ‘right’ and ‘wrong’ or ‘win’ and ‘lose’ no longer have the same significance." Mark Douglas
Today's Economic Calendar
9:45 PMI Composite Flash
9:50 Fed's Williams Speech
1:00 PM Fed's Bullard Speech
2:30 PM Fed's Daly Speech
Questions via @verniman direct message (RTH) or email (After Close).
Follow RTH updates using TweetDeck alerts
