Outlook 01/22: U.S. stock index futures indicated a rebound from the previous session’s losses after the release of stronger-than-expected results from IBM and Netflix. Sentiment was also lifted as concerns over the coronavirus, which has swept across China, eased. China on Wednesday unveiled measures to rein in the deadly virus. President Donald Trump also said he trusts Chinese President Xi Jinping to deal with the crisis, adding the U.S. has everything “totally under control”.
/ESH20 Value: YVAH 3326 YPOC 3321 YVAL 3317 GAP 3319.50
/ES Plan: Last session market closed balanced, but overnight looks more bullish (PBT 3345), moving above yesterday's range, so these're the options for today's regular trading session:
A) If market remains above LIS HVE 3330 with bullish internals, buy towards ONH-ATH 3336.50 and PBT 3345.
B) If market moves below LIS HVE 3330 with bearish internals, sell towards YVAH 3326 and GAP-ONL 3319.25.
Note: Overnight inventory is 100% bullish. The expected action is a counter-auction relative to overnight inventory; failure to see the counter-auction would be an indication of potential bullish trend day. Remember that new record high (ATH) has been printed overnight (ON), so it's still pending to be revisited at NYSE regular trading hours (RTH).
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