Outlook 03/13: U.S. stock futures surged in volatile trading on Friday as Wall Street tried to recoup some of the sharp losses suffered in the previous session, the worst since the “Black Monday” market crash in 1987. SP500 futures jumped more than 5% to reach their “limit up” level. These limit levels act as a ceiling for buying until regular trading begins and are meant to insure orderly trading.
/ESH20 Value: YVAH 2594 YPOC 2520 YVAL 2472 GAP 2470.75
/ES Plan: Yesterday market closed bearish, but overnight surged until limit up was hit, so these're the options for today's session:
A) If market remains above LIS HVE 2562 with bullish internals, buy towards ONH 2582 LVN 2605 HVE 2652-2684 and LVN 2700.
B) If market moves below LIS 2562 with bearish internals, sell towards HVE 2540-2508 LVN 2450-2408 ONL 2380 and HVE 2353.
Note: Rollover Day. Pace of the Roll now is around 50% so I start trading /ESM20. Usually rollover days show big divergences between Stocks vs. Futures, so setups that usually work well, may fail completely. I suggest to stay aside. Don't force trades, avoid overtrading.
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