Outlook 01/08: U.S. stock index futures turned higher this morning, coming back from overnight lows after Iran retaliated for the U.S. killing of a top Iranian general. After the panic 50 decline last night in the SP500 futures, the markets response this morning in the belief that these missile launches are likely the end of this spat rather than a further escalation. The direction of today's session will likely depend on the U.S. response. President Trump will make a statement this morning, but tweeted last night that "all is well" and seemed to suggest there were no American casualties in the attacks.
/ESH20 Value: YVAH 3243 YPOC 3238 YVAL 3234 GAP 3235.25
/ES Plan: Yesterday market closed balanced, but overnight looks more erratic after Iranian missile strikes, still moving within yesterday's value, so these're the options for today's regular trading session:
A) If market remains above LIS YVAL 3234 with bullish internals, buy towards ONH 3246.25 HVE 3254 and ATH 3263.50.
B) If market moves below LIS YVAL 3234 with bearish internals, sell towards HVEs 3230-3222-3206-3189 and ONL 3181.
Note: Remember that record highs has been printed overnight, so it's still pending to be revisited at regular trading hours.
Today's Economic Calendar
10:00 Fed's Brainard Speech
10:30 EIA Petroleum Inventories
11:00 Trump speech about Iran
01:00 PM 10-Year Note Auction
03:00 PM Consumer Credit
Questions via @verniman direct message (RTH) or email (After Close).
Follow RTH updates using TweetDeck alerts
