Outlook 11/14: U.S. stock futures are pulling back slightly, after FED Powell said that negative interest rates aren't needed in the U.S. and monetary policy will remain in place unless there's a "material" change in the economic outlook. Powell will be back on Capitol Hill this morning, testifying before the House Budget Committee.
/ESZ19 Value: YVAH 3095 YPOC 3094 YVAL 3086 GAP 3095.75
/ES Plan: Last session market closed bullish (PBT 3112) but overnight looks slight bearish (PBT 3082), moving within Yesterday's value, so:
A) If market remains below LIS 3093 with bearish internals, sell towards YVAL 3086 PBT 3082 and HVEs 3074-3066.
B) If market moves above LIS 3093 with bullish internals, buy towards GAP 3095.75 HVE 3098 ATH 3102 and PBT 3112.
Note: No major economic reports are out today, but it's a busy day for Federal Reserve members. Fed Chairman Jerome Powell could wind up being the biggest influence on today's stock activity, as he testifies before Congress at 10am. Fed Vice Chairman John Williams and St. Louis Fed President James Bullard all make public appearances.
Today's Economic Calendar
10:00 Powell Testimony
10:30 EIA Natural Gas Inventory
11:00 EIA Petroleum Inventories
11:45 Fed's Daly Speech
12:00 PM Fed's Williams Speech
12:20 PM Fed's Bullard Speech
04:30 PM Money Supply
04:30 PM Fed Balance Sheet
05:00 PM Fed's Kaplan Speech
Questions via @verniman direct message (RTH) or email (After Close).
Follow RTH updates using TweetDeck alerts
