Outlook 12/10: U.S. stock futures were pointing to a second straight day of losses but futures now turn positive after U.S. and Chinese trade negotiators are laying the groundwork for a delay of a fresh round of tariffs set to kick in on Dec. 15. The Fed meets today and tomorrow in its final meeting in a year that saw three interest rate cuts. While the central bank is expected to keep rates where they are following Friday's better-than-expected jobs report, Fed watchers tomorrow will be closely listening for signals to the contrary at Powell's conference.
/ESZ19 Value: YVAH 3148 YPOC 3142 YVAL 3137 GAP 3134.50
/ES Plan: Last session market closed slight bearish but overnight looks more bullish, moving within yesterday's value, so:
A) If market remains above LIS YVAL 3137 with bullish internals, buy towards ONH 3142 YVAH 3148 HVE 3150 and ATH 3158.
B) If market moves below LIS YVAL 3137 with bearish internals, sell towards GAP 3134.50 ONL 3116.25 and HVEs 3097-3090.
Tips: Remember that new record high printed during ETH sessions should be revisited at NYSE regular trading hours (RTH). Keep in mind that we're on the rollover week and volume dries up from December to March contract, so trade setups that usually work well, may fail completely.
Today's Economic Calendar
1:00 PM 10-Year Note Auction
Questions via @verniman direct message (RTH) or email (After Close).
Follow RTH updates using TweetDeck alerts
