Outlook 11/29: Futures are pointing to declines of 0.2% ahead of a half-day trading session. Sentiment that propelled stocks to several rounds of record highs is under pressure from a human rights dispute in Hong Kong that could upend progress in China-U.S. trade talks. President Trump has signed into law Congressional legislation supporting the city's anti-government protesters, prompting Beijing to say it would take "firm counter measures" and attempts to interfere were doomed to fail.
/ESZ19 Value: YVAH 3155 YPOC 3152 YVAL 3145 GAP 3153.75
/ES Plan: Last regular session market closed bullish (PBT 3162) but overnight looks more balanced moving within Wednesday's value, so today's options:
A) If market remains above LIS 3146 with bullish internals, buy towards ONH 3152 ATH 3155 and PBT 3162.
B) If market moves below LIS 3146 with bearish internals, sell towards ONL 3141.50 and HVEs 3133-3120.
Tips: Watching at the bigger picture, last ATH was a poor high without a decent excess on it. Market needs an excess high to call an end.
Economic Calendar
NYSE close at 1:00 PM
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
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