Outlook 04/07: Stock futures pointed to a Tuesday opening jump in early morning trade, building on a steep rebound in the previous session. The move higher came after a series of positive coronavirus developments from around the world. In the U.S., the number of new cases appears to has fallen in recent days from their recent peak. Italy and Spain, two of the hardest-hit countries, are also seeing new cases fall off. In Asia, South Korea reported less than 50 new cases of infection for the second day running. China also posted no new deaths as of April 6 for the first time since January when it started publishing daily updates.
/ESM20 Value: YVAH 2637 YPOC 2617 YVAL 2572 GAP 2645
/ES Plan: Last session market closed bullish, and overnight continues on that way (PBT 2810), so these're the options for today:
A) If market remains above LIS HVE 2725 with bullish internals, buy towards LVN-HVE 2745 LVN 2760 HVEs 2775-2789 and PBT 2810.
B) If market moves below LIS HVE 2725 with bearish internals, sell towards LVN 2700 HVE 2684-2652 ONL 2623.50 and LVN 2605.
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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