Outlook 04/28: U.S. stock futures were higher on Tuesday as investors continued to be optimistic about the prospect of states re-opening the U.S. economy. Don't forget the Fed! The central bank begins its two-day meeting, and while no interest rate changes are expected, all eyes will be on tomorrow's presser from Chairman Jay Powell.
/ESM20 Value: YVAH 2872 YPOC 2862 YVAL 2850 GAP 2868.50
/ES Plan: Yesterday market closed bullish (PBT 2924), and overnight continues on that way, moving above Yesterday's value, so these are the initial balance options for today's opening:
A) If market remains above LIS HVE 2907 with bullish internals, buy towards HVE 2918 PBT 2924 HVE 2937 and LVN 2951.
B) If market moves below LIS 2907 with bearish internals, sell towards HVE 2889 LVN 2880 GAP 2868.50 HVE 2857 and ONL 2851.
Note: Overnight inventory is 90% bullish. The expected action is a counter-auction relative to overnight inventory; failure to see the counter-auction would be an indication of potential trend day.
Market Movers
10:00 Consumer Confidence
10:00 Richmond Fed Mfg.
11:30 2-Year FRN Auction
01:00 PM 7-Year Note Auction
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