Outlook 09/11: U.S. stock index futures are slightly in the green after China exempted 16 U.S. products from higher tariffs ahead of trade talks planned for next month. The exemption will include whey and fish meal, which are fed to animals, as well as some lubricants, starting Sept. 17. Hopes for a September stock rebound are also getting a boost on expectations for fresh monetary stimulus from the European Central Bank tomorrow and the Federal Reserve next week.
/ESU19 Value: YVAH 2972 YPOC 2964 YVAL 2959 GAP 2979
/ES Plan: Yesterday market closed bullish and overnight continues on that way, moving above yesterday's value, so today's options:
A) If market remains above LIS 2979 with bullish internals, buy towards ONH 2987 HVE 2988 and Tariffs SoC HVE 3006.
B) If market moves below LIS 2979 with bearish internals, sell towards ONL 2972 LVN 2963 HVE 2955 and HVE-SoC 2948.
Note: We're into the rollover week, so volume from September contract starts to dries up towards December contract. The pace of the roll, right now, is around 10%. I start to quote /ESZ19 due to volume from /ESZ19 contract becomes greater than /ESU19 contract.
Today's Economic Calendar
10:00 Atlanta Fed's Inflation Expectations
10:00 Wholesale Trade
10:30 EIA Petroleum Inventories
01:00 PM 10-Year Note Auction
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