Outlook 10/22: U.S. stocks futures wavered between slight gains and losses overnight as traders continue to assess whether the two major themes dominating sentiment all year (U.S.-China trade war and Brexit) will turn out all right. Boris Johnson will finally put his Withdrawal Agreement to a vote in Parliament today, in the first test of whether he has won over enough lawmakers to his plan to pull U.K. out of the EU. If Parliament votes again for delay by voting down the programme motion, and EU offers delay until 31 Jan, there will be no further business for Parliament and U.K. will move to an election before Christmas.
/ESZ19 Value: YVAH 3007 YPOC 3001 YVAL 2998 GAP 3006.25
/ES Plan: Yesterday market closed bullish (PBT 3018) and overnight continues on that way (PBT 3018), moving above Yesterday's value, so:
A) If market remains above LIS HVE 3007 with bullish internals, buy towards ONH 3014.25 HVE 3018 and ATH 3029.50.
B) If market moves below LIS HVE 3007 with bearish internals, sell towards ONL 3000.75 GAP-HVE 2988 and HVE 2980.
Tips: It's Tuesday, the market starts moving much better than we had seen on Monday. This happens because higher time frame traders have formed their opinions and are beginning to take positions. This is a good day for offensive strategies and taking some risks.
Today's Economic Calendar
10:00 Existing Home Sales
10:00 Richmond Fed Mfg.
01:00 PM Fed's Kaplan Speech
01:00 PM 2-Year Note Auction
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