Outlook 11/27: The Santa rally appears to be coming early this year as traders look set to push futures stock indexes further into record high territory today before taking off for Thanksgiving.
/ESZ19 Value: YVAH 3140 YPOC 3136 YVAL 3133 GAP 3144
/ES Plan: Last session market closed balanced but overnight looks more bullish (PBT 3152) moving above yesterday's range, so today's options:
A) If market remains above LIS YHOD 3145 with bullish internals, buy towards ONH-ATH 3150.25 and PBTs 3152-3160.
B) If market moves below YHOD 3145 with bearish internals, sell towards ONL 3141.75 YVAH 3140 and YVAL-HVE 3133.
Tips: Watching at the bigger picture, yesterday and overnight highs leave a poor high without a decent excess on it. Market needs an excess high to call an end. Remember that new highs printed during ETH sessions should be revisited at NYSE regular trading hours (RTH).
Today's Economic Calendar
10:00 Personal Income and Outlays
10:00 Pending Home Sales
10:00 State Street Investor Confidence Index
10:30 EIA Petroleum Inventories
11:00 Survey of Business Uncertainty
11:30 7-Year Note Auction
12:00 PM EIA Natural Gas Inventory
01:00 PM Baker-Hughes Rig Count
02:00 PM Fed's Beige Book
03:00 PM Farm Prices
Questions via @verniman direct message (RTH) or email (After Close).
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