Outlook 02/06: U.S. stock index futures rose on Thursday after China said it would halve tariffs on $75 billion of U.S. imports as part of its efforts to implement a recently signed 'phase one' trade deal. China said that the next adjustment will depend on how China-U.S. trade ties evolve, working with Washington to completely eliminate all tariff increases. The announcement adds to hopes the global economy may be able to avoid a major shock from China's rapidly spreading coronavirus.
/ESH20 Value: YVAH 3329 YPOC 3326 YVAL 3314 GAP 3334.75
/ES Plan: Last session market closed bullish (PBT 3364) and overnight continuous 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 3338 with bullish internal, buy towards ONH-ATH 3357.75 and PBT 3364.
B) If market moves below YHOD 3338 with bearish internal, sell towards GAP-ONL-HVE 3234.75-3332.50-3231.
Note: Remember that new record high (ATH) has been printed overnight, so it's still pending to be revisited at NYSE regular trading hours.
Today's Economic Calendar
9:15 PM Fed's Kaplan Speech
10:30 EIA Natural Gas Inventory
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
7:15 PM Fed’s Quarles Speech
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