Outlook 04/06: Stock futures surged on Monday, pointing to a big rebound to start the week. While the White House acknowledged this week could be among the toughest for coronavirus hot spots like New York, the administration had a more optimistic tone overall at a press conference on Sunday, noting signs of stabilization in hospital rates and other factors. Slowing death rates in Europe offered up some hope that the U.S would be nearing its peak soon as well and that social distancing measures are working.
/ESM20 Value: YVAH 2496 YPOC 2480 YVAL 2454 GAP 2481.50
/ES Plan: Last session market closed bearish, but overnight looks more bullish (PBT 2660), so these're the options for today:
A) If market remains above LIS HVE 2560 with bullish internals, buy towards ONH-HVE 2586.75 HVEs 2620-2652 and PBT 2660.
B) If market moves below LIS HVE 2560 with bearish internals, sell towards HVE 2539-2508 ONL 2484.75 and HVEs 2454-2416.
Note: Overnight inventory is 100% bullish. The expected action is a counter-auction relative to overnight inventory; failure to see the counter-auction would be an indication of a potential trend day.
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