Outlook 04/27: Stocks futures were higher in early Monday morning trading as investors mulled the possibility of re-opening the economy after the coronavirus outbreak. New York Gov. Andrew Cuomo said Sunday the state plans to re-open its economy in phases. The first phase, Cuomo said, would involve New York’s construction and manufacturing sectors. As part of the second phase, businesses will need to design plans for a re-opening that include social distancing practices and having personal protective equipment available. States including Alaska, Georgia, South Carolina, Tennessee and Texas are beginning to allow restaurants and other establishments to serve customers.
/ESM20 Value: YVAH 2824 YPOC 2792 YVAL 2785 GAP 2829
/ES Plan: Last session market closed balanced, but overnight looks more bullish (PBT 2899), moving above Friday's value, so these are the initial balance options for today's opening:
A) If market moves above LIS HVE 2857 with bullish internals, buy towards ONH 2865 GAP 2869 HVE 2889 PBT 2899 and HVE 2907.
B) If market moves below LIS 2857 with bearish internals, sell towards HVEs 2841-2820 GAP 2781.50 ONL 2812.75 and LVN 2800.
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
10:30 Dallas Fed Manufacturing Survey
01:00 PM 5-Year Note Auction
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