Outlook 01/24: U.S. stock index futures moved higher on Friday as the corporate earnings season rolled on with strong results from American Express while worries over the deadly coronavirus eased. China has widened a lockdown in Hubei province as the death toll climbed to 26 (with 830 confirmed cases), and instituted travel restrictions that will affect at least 20M people across 10 cities.
/ESH20 Value: YVAH 3320 YPOC 3313 YVAL 3305 GAP 3326
/ES Plan: Last session market closed balanced but overnight looks more bullish (PBT 3341), moving above yesterday's range, so these're the options for today's regular trading session:
A) If market remains above LIS HVE 3331 with bullish internals, buy towards ONH-ATH 3337 and PBT 3341.
B) If market moves below LIS HVE 3331 with bearish internals, sell towards ONL-GAP 3325 and YVAH 3320.
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 trending day.
Today's Economic Calendar
9:45 PMI Composite Flash
1:00 PM Baker-Hughes Rig Count
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