Outlook 12/04: U.S. futures are now suggesting a bullish open after sitting deep in the red for most of the night. Bloomberg reported that the U.S. and China are moving closer to agreeing on the amount of tariffs that would be rolled back in a Phase One trade deal despite legislation over Hong Kong and Xinjiang. The pact would be completed before another tariff deadline on December 15, despite comments a day earlier from President Trump that cast doubt on a quick agreement.
/ESZ19 Value: YVAH 3091 YPOC 3081 YVAL 3074 GAP 3091
/ES Plan: Yesterday market closed bullish and overnight continues on that way, moving above yesterday's value, so today's options:
A) If market remains above LIS HVE 3097 with bullish internals, buy towards ONH 3108.50 GAP 3114 and HVEs 3120-3133.
B) If market moves below LIS HVE 3097 with bearish internals, sell towards HVE-GAP 3091-90 ONL 3081.75 and HVE 3074.
Tips: Remember that new highs printed during ETH sessions should be revisited at NYSE regular trading hours (RTH).
Today's Economic Calendar
09:45 PMI Services Index
10:00 ISM Non-Manufacturing Index
10:00 Randal Quarles Speech
10:30 EIA Petroleum Inventories
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