Outlook 12/16: U.S. stock futures are going green again as investors digest the Phase One trade deal, which is expected to nearly double U.S. exports to China over the next two years. U.S. Trade Representative Robert Lighthizer said on Sunday the phase one U.S.-China trade deal reached on Friday is "totally done," and it will nearly double U.S. exports to China over the next two years.
/ESH20 Value: YVAH 3177 YPOC 3173 YVAL 3165 GAP 3175
/ES Plan: Last session market closed balanced but Sunday's opening looks more bullish, moving above Friday's range, so today's options:
A) If market remains above LIS YHOD 3188 with bullish internals, buy towards ONH-ATH 3193 and PBT 3194.
B) If market moves below YHOD 3188 with bearish internals, sell towards ONL 3177 GAP 3175 and HVE 3159.
Note: 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 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 March 2020 (/ESH20).
Today's Economic Calendar
09:45 PMI Composite Flash
10:00 NAHB Housing Market Index
04:00 PM Treasury International Capital
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