Outlook 05/22: Stock futures pointed to neutral opening ahead of Memorial Day weekend with the latest tensions between the U.S. and China on display. Beijing detailed new national security legislation for Hong Kong, prompting American lawmakers to propose a bill that would essentially sanction any Chinese officials that enforce such a law. Stocks closed lower on Thursday, but initially posted broad gains as President Trump announced the economy would not shut again if a second wave of coronavirus hits, while Treasury Secretary Steven Mnuchin said there was a "strong likelihood" of another stimulus package.
/ESM20 Value: YVAH 2957 YPOC 2950 YVAL 2941 GAP 2936.75
/ES Plan: Yesterday market closed balanced, but overnight looks more bullish, moving within yesterday's value, so these are the initial balance options for today's opening:
A) If market remains above LIS HVE 2937 with bullish internals, buy towards HVE 2950 ONH 2952.50 and HVEs 2963-2980-2995.
B) If market moves below LIS HVE 2937 with bearish internals, sell towards HVEs 2925-2918-2907 ONL 2903.75 and HVE 2889.
Note: Keep in mind an additional variable of the trading puzzle, 'TIME' (Timing). Usually, every half hour the big money starts a new sequence. Take advantage of that impulse. Most profitable half hour sequences are: First Reversal (10AM), IB Close (10:30) and Last Half Hour (3:30PM).
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