Outlook 12/19: U.S. stock futures were pointing to a balanced open, relatively muted so far after the Democrat-led House of Representatives voted to impeach President Trump for abuse of power and obstruction of justice. The case will now go to the Republican-controlled Senate, where the trial is likely to be dismissed or end with Trump being acquitted. Wall Street fell short of extending its five-session winning streak on Wednesday, as stocks reversed gains late in the day.
/ESH20 Value: YVAH 3201 YPOC 3199 YVAL 3197 GAP 3199.50
/ES Plan: Last session market closed balanced and overnight continues on that way, moving below yesterday's value, so today's options:
A) If market remains below LIS YVAL 3197 with bearish internals, sell towards ONL 3194.50 HVE 3189 and GAP 3175.
B) If market moves above LIS YVAL 3197 with bullish internals, buy towards ONH 3201.75 ATH 3203.50 and PBT 3220.
Note: 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 quoting new contract /ESH20.
Today's Economic Calendar
10:00 Existing Home Sales
10:00 Leading Indicators
10:30 EIA Natural Gas Inventory
04:30 PM Money Supply
04:30 PM Fed Balance Sheet
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