Outlook 01/09: U.S. stock futures were pointing to more gains after Wednesday's turnaround as US-Iran tensions decrease. The SP500 also posted an intraday all-time high after President Donald Trump said Iran appeared to be “standing down” after firing a barrage of missiles at military bases housing U.S. troops in Iraq. Trump also suggested the U.S. would be open to negotiations with the Islamic Republic.
/ESH20 Value: YVAH 3267 YPOC 3259 YVAL 3235 GAP 3260.25
/ES Plan: Yesterday market closed bullish (PBT 3281), and overnight continues on that way, moving above yesterday's range, so these're the options for today's regular trading session:
A) If market remains above LIS YHOD-YVAH 3267 with bullish internals, buy towards ONH-ATH 3274 and PBT 3281.
B) If market moves below LIS 3267 with bearish internals, sell towards GAP 3260.25 ONL 3257.75 and HVE 3255.
Note: Remember that record highs has been printed overnight, so it's still pending to be revisited at regular trading hours. Watching at the bigger picture, new ATH leaves a poor high without a decent excess on it. Market needs an excess high to call an end.
Today's Economic Calendar
09:30 Fed's Kashkari Speech
10:30 EIA Natural Gas Inventory
11:30 Fed's Williams Speech
12:45 PM Fed's Barkin Speech
01:00 PM 30-Year Note Auction
01:20 PM Fed's Evans Speech
04:30 PM Money Supply
04:30 PM Fed Balance Sheet
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