Outlook 10/10: Overnight traders had a roller-coaster session as headlines grab hold of market sentiment. While U.S. stocks rallied Wednesday on trade optimism, futures fell sharply after the close on reports that high-level trade talks between the U.S. and China might be cut short. A volatile session then ensued, with futures now back at the starting line. Among the rumors: There has been no change to the negotiation schedule, next week's tariff hike could be suspended, concessions may be announced for blacklisted Huawei, a currency pact is underway, a partial trade deal is in the works and Beijing is offering to increase agricultural purchases.
/ESZ19 Value: YVAH 2923 YPOC 2917 YVAL 2910 GAP 2919.75
/ES Plan: Yesterday market closed bullish (PBT 2945) and overnight continues on that way, moving within Yesterday's value, so:
A) If market remains above LIS HVE 2918 with bullish internals, buy towards ONH 2923.50 HVE 2925 GAP 2937.50 and PBT 2945.
B) If market remains below LIS HVE 2918 with bearish internals, sell towards HVE 2908 GAP 2892.50 HVE 2889 and ONL 2881.75.
Note: Minneapolis Fed President Kashkari, San Francisco Fed President Mary Daly and Cleveland Fed President Loretta Mester speak today.
Today's Economic Calendar
10:30 EIA Natural Gas Inventory
12:15 PM Fed's Kashkari Speech
12:30 PM Fed's Daly Speech
01:00 PM 30-Year Note Auction
02:00 PM Treasury Budget
02:30 PM Fed's Mester Speech
03:30 PM Fed's Daly Speech
04:30 PM Money Supply
04:30 PM Fed Balance Sheet
Questions via @verniman direct message (RTH) or email (After Close).
Follow RTH updates using TweetDeck alerts
