Outlook 02/20: U.S. stock index futures fall to lows after Fed’s Clarida poured cold water on market expectations for easier monetary policy from the U.S. central bank. “Market pricing on rate cuts is a little tricky,” Fed Vice Chairman Richard Clarida told CNBC, noting that he prefers to look at economists forecasts over futures markets on Fed rates. Clarida noted the economists do not expect a rate cut soon.
/ESH20 Value: YVAH 3392 YPOC 3390 YVAL 3382 GAP 3386.50
/ES Plan: Yesterday market closed bullish (PBT 3409) but overnight session looks more bearish, moving below yesterday's value, so these're the options for today's regular trading session:
A) If market remains below LIS YVAL 3382 with bearish internals, sell towards ONL 3375.25 GAP 3370 and HVE 3358.
B) If market moves above LIS YVAL 3382 with bullish internals, buy towards GAP 3386.50 ATH-ONH 3397.50 and PBT 3404.
Note: Remember that new record high (ATH) has been printed overnight, so it's still pending to be revisited at NYSE regular trading hours (RTH).
Today's Economic Calendar
10:00 Leading Indicators
10:30 EIA Natural Gas Inventory
11:00 EIA Petroleum Inventories
01:20 PM Fed's Barkin Speech
04:30 PM Money Supply
04:30 PM Fed Balance Sheet
Questions via @verniman direct message (RTH) or email (After Close).
Follow alerts using TweetDeck. Primary twitter language is English.
No unauthorized reproduction of this service without permission.
