Outlook 03/27: U.S. stock futures pointed lower Friday following a sharp rally sparked by increasing expectations of massive fiscal stimulus while investors shook off grim unemployment data. Market got a boost after the Senate passed a $2 trillion economic stimulus bill aimed at mitigating the economic damage from the coronavirus outbreak. House Speaker Nancy Pelosi, said the bill will be passed “with strong bipartisan support.” The House is expected to vote on the bill later today.
/ESM20 Value: YVAH 2625 YPOC 2572 YVAL 2529 GAP 2608.75
/ES Plan: Last session market closed bullish (PBT 2744), but overnight looks more bearish, so these're the options for today:
A) If market remains below LIS HVE 2540 with bearish internals, sell towards ONL 2524.50 and HVEs 2508-2480 and GAP 2465.50
B) If market moves above LIS 2540 with bullish internals, buy towards HVE 2562-2587-2620 ONH 2634.50 HVE 2652 and GAP 2685.25.
Note: On these high volatility days (VIX>70), your first trading rule is 'manage your risk'. Regardless of how much more money you could have made, you do realize that you just can not manage risk on this enviroment. Risk is just too great (>20p) so I recommend to stay aside.
Market Movers
10:00 Consumer Sentiment
01:00 PM Baker-Hughes Rig Count
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.
