Outlook 10/17: U.S. stock futures spiked this morning after a draft Brexit deal was struck between the European Union and the U.K. in the eleventh hour of talks and ahead of a crucial EU summit today. The "Withdrawal Agreement" will now be put before EU leaders at their summit today and tomorrow, but the key is whether the new Brexit can pass Britain's fractious Parliament.
/ESZ19 Value: YVAH 2992 YPOC 2991 YVAL 2987 GAP 2991.25
/ES Plan: Yesterday market closed balanced but overnight looks bullish (PBT 3020), moving above yesterday's range, so:
A) If market moves above LIS YHOD 2998 with bullish internals, buy towards ONH-HVE 3007 HVE 3012-3018 and ATH 3029.50.
B) If market moves below LIS YHOD 2998 with bearish internals, sell towards GAP 2991.25 ONL 2985.25 HVE 2980 and GAP 2966.
Tips: Take trades leaning on volume edge levels (LIS/HVE/VAH/VAL), towards magnets targets (ONH/ONL/PBT/GAP) all levels that complete unfinished auctions from the current day or the previous day. After all these targets have been filled leaving an excess high/low, market will return to value, unless volume shows poor high/low that suggests a value transition and a new cycle of balance/imbalance starts.
Today's Economic Calendar
10:30 EIA Natural Gas Inventory
11:00 EIA Petroleum Inventories
02:00 PM Fed's Evans Speech
02:00 PM Fed's Bowman Speech
04:20 PM Fed's Williams Speech
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