Outlook 12/17: U.S. stock index futures paused overnight, awaiting the latest from the data front - Housing Starts, Industrial Production and JOLTS. SP500 and Nasdaq continue on pace for their largest yearly gains since 2013, but the SP500 could post its best year since 1997 if it can increase its year-to-date gain by a little more than 2 percentage points before the end of December.
/ESH20 Value: YVAH 3201 YPOC 3199 YVAL 3196 GAP 3198.50
/ES Plan: Last session market closed bullish but overnight looks more balanced, moving above yesterday's value, so today's options:
A) If market remains above LIS YVAH 3201 with bullish internals, buy towards ONH-ATH 3203.50 and PBT 3220.
B) If market moves below LIS YVAH 3201 with bearish internals, sell towards ONL 3192 HVE 3189 and GAP 3175.
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
10:00 Job Openings and Labor Turnover Survey
12:30 PM Fed's Williams Speech
01:00 PM Fed's Rosengren Speech
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