Outlook 12/26: U.S. stock futures were pointing to a modestly higher open on Thursday, following mixed results in Tuesday's abbreviated session. U.S. China closer to trade deal. China’s commerce ministry spokesman said the parties are close to signing the Phase 1 trade deal agreement. The parties are working through the necessary procedures while remaining in communication. Earlier this week, President Trump said there would be a signing ceremony with President Xi Jinping.
/ESH20 Value: YVAH 3226 YPOC 3225 YVAL 3224 GAP 3226.50
/ES Plan: Last session market closed balanced and overnight continues in that way, moving above Tuesday's value, so today options:
A) If market remains above LIS HVE 3230 with bullish internals, buy towards ATH 3234.25 and PBT 3245.
B) If market moves below LIS HVE 3230 with bearish internals, sell towards GAP 3226.50 and HVE 3221.
Note: Remember that new record high printed during ETH session should be revisited at RTH session. Market needs an excess high to call an end to the current bullish auction. "Santa Claus Rally" is still into play.
Today's Economic Calendar
10:00 State Street Investor Confidence Index
1:00 PM 7-Year Note Auction
04:30 PM Money Supply
04:30 PM Fed Balance Sheet
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