Outlook 01/02: U.S. stock futures are pointing to a strong rally at the Thursday open, after the People’s Bank of China lowered the amount of reserve cash the country’s banks need to support the economy. This move will inject about 800 billion yuan in liquidity to the Chinese economy. Chinese stocks rose broadly on the announcement, with global equity markets following them.
/ESH20 Value: YVAH 3227 YPOC 3218 YVAL 3216 GAP 3234.75
/ES Plan: Last session market closed bearish (PBT 3200), but overnight looks more bullish (PBT 3265), moving above Tuesday's range, so these're the options for today's regular trading session:
A) If market remains above LIS LVN 3246 with bullish internals, buy towards ATH 3254 and PBT 3265.
B) If market moves below LIS 3246 with bearish internals, sell towards GAP-ONL 3234.25 and HVE 3230.
Note: Remember that new record high printed during ETH session should be revisited at RTH session. Market needs an excess high to call an end to the current bullish auction. Stats say that "Santa Claus Rally" is still into play till January 06, 2020.
Today's Economic Calendar
9:45 PMI Manufacturing Index
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
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