Outlook 05/11: U.S. stock futures fell on Monday amid jitters about reopening the economy too soon. A jump in infections in South Korea and other countries that appeared passed the worst of the coronavirus stoked some jitters here. Stocks that would benefit most from reopening led the losses in premarket trading including airlines, retailers, cruise lines and casinos.
/ESM20 Value: YVAH 2917 YPOC 2913 YVAL 2903 GAP 2928.25
/ES Plan: Last session market closed bullish, but overnight looks more bearish, moving below Friday's value, so these are the initial balance options for today's opening:
A) If market remains below LIS YVAL 2903 with bearish internals, sell towards ONL 2889.75 GAP 2880.25 and HVEs 2867-2857.
B) If market moves above YVAL 2903 with bullish internals, buy towards HVEs 2907-2918 GAP 2928.25 HVE 2937 and ONH 2947.
Note: Overnight looks multimodal, without a clear value as reference, so don't be 'too anxious' to trade early in the morning. We need to have some patience until market find value.
Market Movers
12:30 PM Fed's Evans Speech
01:00 PM 3-Year Note Auction
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