Outlook 11/18: U.S. stock futures were pointing lower Monday morning as U.S.-China trade deal becomes pessimistic. China troubled after Trump said no tariff rollback. China strategy now seems to continue talks but waiting impeachment or US election. Also prioritize China economic support. The People's Bank of China overnight also lowered one of its key interest rates for the first time since 2015.
/ESZ19 Value: YVAH 3119 YPOC 3113 YVAL 3108 GAP 3117.75
/ES Plan: Last session market closed bullish but overnight looks more bearish and bimodal (LIS 3119), moving within Yesterday's value, so:
A) If market remains below LIS 3119 with bearish internals, sell towards ONL 3113.50 and YVAL 3108.
B) If market moves above LIS 3119 with bullish internals, buy towards ONH-ATH 3127.75 and PBT 3130.
Tips: New record high was printed at overnight session. Remember that new highs printed during ETH sessions should be revisited at NYSE RTH.
Today's Economic Calendar
10:00 NAHB Housing Market Index
12:00 PM Fed's Mester Speech
04:00 PM Treasury International Capital
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