Outlook 12/03: U.S. stock futures are sinking back into the red. "In some ways, I like the idea of waiting until after the election for the China deal, but they want to make a deal now and we will see whether or not the deal is going to be right" President Trump told reporters in London. Worsening the mood, The Global Times said China will release an "unreliable entity list" soon that includes U.S. entities.
/ESZ19 Value: YVAH 3124 YPOC 3116 YVAL 3111 GAP 3114
/ES Plan: Yesterday market closed bearish (PBT 3074) and overnight continues on that way, moving below yesterday's range, so today's options:
A) If market remains below LIS HVE 3090 with bearish internals, sell towards ONL 3086 PBT 3074 and HVE 3063.
A) If market moves above LIS HVE 3090 with bullish internals, buy towards HVE 3097 YVAL 3111 and GAP 3114.
Tips: Overnight inventory is bearish. The expected action is a counter-auction relative to overnight inventory; failure to see the counter-auction would be an indication of a potential trend day. Remember that new highs printed during ETH sessions should be revisited at NYSE regular trading hours (RTH).
Today's Economic Calendar
4:30PM API Weekly Crude Oil Stock
Questions via @verniman direct message (RTH) or email (After Close).
Follow RTH updates using TweetDeck alerts
