Outlook 11/15: U.S. stock futures were pointing to a higher open on Wall Street following positive comments on U.S.-China trade talks out of the White House. Top Trump economic advisor Larry Kudlow, at the Council on Foreign Relations event in Washington, cited what he called "very constructive talks" with Beijing about ending the 16-month trade war. "We're getting close," he said Thursday evening.
/ESZ19 Value: YVAH 3096 YPOC 3093 YVAL 3082 GAP 3097.25
/ES Plan: Last session market closed bullish and overnight has repaired previous bullish imbalances, moving above Yesterday's value, so:
A) If market remains above LIS 3103 with bullish internals, buy towards ONH-ATH 3111.50 and PBT 3118.
B) If market moves below LIS 3103 with bearish internals, sell towards HVE-GAP 3097.25 and ONL 3095.75
Tips: Overnight inventory is 100% bullish. The expected action is a counter-auction relative to overnight inventory; failure to see the counter-auction would be an indication of a potential trend day. Remember that new highs printed during ETH sessions should be revisited at NYSE regular trading hours (RTH).
Today's Economic Calendar
09:15 Industrial Production
10:00 Business Inventories
01:00 PM Baker Hughes Rig Count
05:00 PM Fed's Daly Speech on Sunday
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