Outlook 03/11: U.S. stock futures fell sharply on Wednesday morning, pointing to another volatile session. Investors keep monitoring the impact of the coronavirus on all the major economies. Market players are also looking at fiscal and monetary policy responses. President Donald Trump suggested Tuesday a 0% payroll tax rate that could last until the end of the year.
/ESH20 Value: YVAH 2881 YPOC 2815 YVAL 2789 GAP 2863.50
/ES Plan: Yesterday market closed bullish (PBT 2937), but overnight session looks more bearish (PBT 2744), still moving within yesterday's value, so these're the options for today's regular trading session:
A) If market remains below LIS HVE YVAL 2789 with bearish internals, sell towards ONL 2778 LVNs 2760-2744 and HVE 2725.
B) If market moves above LIS YVAL 2789 with bullish internals, buy towards HVE 2815 HVE 2844 GAP 2863.50 and ONH 2869.50.
Note: On high volatility days, 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. The risk is just too great, I strongly recommend to stay aside. Keep in mind that we're on the rollover week and volume dries up from March to June contract, so trade setups that usually work well, may fail completely.
Market Movers
10:00 Atlanta Fed's Business Inflation Expectations
10:30 EIA Petroleum Inventories
01:00 PM 10-Year Note Auction
02:00 PM Treasury Budget
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.
