Outlook 02/25: U.S. stock index futures pointed to balanced open following the market’s worst decline in two years on concerns the coronavirus outbreak would dent global economic growth. The spike in coronavirus cases beyond China sparked concerns Monday about a prolonged global economic slowdown due to the outbreak. The market losses were widespread around the world, with global stocks losing over $1.7 trillion of value in a single day.
/ESH20 Value: YVAH 3255 YPOC 3245 YVAL 3225 GAP 3227
/ES Plan: Yesterday market closed bearish but overnight session looks more balanced, moving within yesterday's range, so these're the options for today's regular trading session:
A) If market remains below LIS POC 3245 with bearish internals, sell towards GAP 3227 HVEs 3213-3189 and GAP 3175.
B) If market moves above LIS 3245 with bullish internals, buy towards HVE-YVAH 3255 ONH 3259.50 and HVE 3280-3298.
Note: Remember, if we're within yesterday's value in balance we want to have some patience. Let the market show you what it wants to do.
Today's Economic Calendar
09:45 Fed's Kaplan Speech
10:00 Consumer Confidence
10:00 Richmond Fed Mfg.
01:00 PM 2-Year Note Auction
03:00 PM Fed’s Clarida Speech
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