Outlook 01/21: U.S. stock futures were pointing to a lower open, with global stocks from Asia to Europe under pressure. There are concerns this morning over a contagious strain of pneumonia in China. The outbreak of a new coronavirus in China killed four people, with confirmed cases exceeding 200 ahead of the Lunar New Year holiday, during which hundreds of millions of people are expected to travel.
/ESH20 Value: YVAH 3326 YPOC 3324 YVAL 3321 GAP 3324.25
/ES Plan: Last session market closed balanced, but overnight looks more bearish (PBT 3296), moving below friday's range, so these're the options for today's regular trading session:
A) If market remains below LIS YLOD 3316 with bearish internals, sell towards ONL-HVE 3307 and GAP 3293.75.
B) If market moves above LIS YLOD 3316 with bullish internals, buy towards GAP-POC 3324 and ONH-YVAH 3326.
Note: Overnight inventory is 100% bearish. The expected action is a counter-auction relative to overnight inventory; failure to see the counter-auction would be an indication of potential bearish trend day.
Today's Economic Calendar
No event scheduled
Questions via @verniman direct message (RTH) or email (After Close).
Follow alerts using TweetDeck. Primary twitter language is English.
No unauthorized reproduction of this service without permission.
TD Ameritrade
