Outlook 01/23: U.S. stock index futures were little changed on Thursday as investors digested the latest batch of corporate earnings along with worries over the deadly coronavirus that placed renewed downward pressure on global equity markets, with the death toll rising to 17. World Health Organization set to reconvene Thursday to decide whether to declare a global health emergency.
/ESH20 Value: YVAH 3336 YPOC 3328 YVAL 3326 GAP 3320
/ES Plan: Last session market closed balanced and overnight continuous on that way, but moving below yesterday's range, so these're the options for today's regular trading session:
A) If market remains below LIS YLOD 3315 with bearish internals, sell towards ONL 3312 and HVE 3307.
B) If market moves above LIS YLOD 3315 with bullish internals, buy towards GAP 3320 and HVE 3330.
Note: Overnight inventory is balanced so don't be 'too anxious' to trade early in the morning. If we're within a balanced range we want to have some patience until market bias is defined.
Today's Economic Calendar
10:00 Leading Indicators
10:30 EIA Natural Gas Inventory
11:00 Kansas City Fed Mfg Survey
11:00 EIA Petroleum Inventories
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
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