Outlook 12/18: U.S. stock futures were pointing to modest gains at the Wednesday open, following more record closes for the major averages. The SP500 leads the pack with 30 record closes for 2019, although the Nasdaq has the largest year-to-date gain at just under 33%. Stronger-than-expected housing data continued to support this rally as investors await more details about a preliminary trade agreement between the U.S. and China. Meanwhile, the House will vote today on whether to make President Donald Trump only the third president in American history to be formally impeached.
/ESH20 Value: YVAH 3200 YPOC 3198 YVAL 3196 GAP 3195
/ES Plan: Last session market closed balanced and overnight continues on that way, moving inside yesterday's value, so today's options:
A) If market remains above LIS YVAL 3196 with bullish internals, buy towards ONH 3199 ATH 3203.50 and PBT 3220.
B) If market moves below LIS YVAL 3196 with bearish internals, sell towards ONL 3192 HVE 3189 and GAP 3175.
Note: Keep in mind that we're on the expiration week and volume dries up from December to March contract, so trade setups that usually work well, may fail completely. I'm already trading new contract /ESH20.
Today's Economic Calendar
10:15 Fed's Williams Speech
10:30 EIA Petroleum Inventories
12:40 PM Fed's Evans Speech
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