Outlook 07/15: U.S. stock futures were set to open higher following Moderna's hopeful updates on its potential Covid-19 vaccine and Goldman Sachs strong earnings report. Moderna said its potential vaccine to prevent Covid-19 provided a "robust" immune response in early stage human trials, with all 45 patients producing neutralizing antibodies. Goldman Sachs reported quarterly revenues and per-share earnings that far exceeded Street expectations.
/ESU20 Value: YVAH 3175 YPOC 3157 YVAL 3142 GAP 3183.25
/ES Plan: Yesterday market closed bullish, and overnight continues on that way, moving above yesterday's range, so these are the initial balance options for today's opening:
A) If market remains above LIS 3221 with bullish internals, buy towards ONH 3233.25 and HVEs 3255-3280-3298.
B) If market moves below LIS 3221 with bearish internals, sell towards HVE 3207 ONL 3198 and HVEs 3189-3177.
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.
Market Movers
10:00 Atlanta Fed's Business Inflation Expectations
10:30 EIA Petroleum Inventories
12:00 PM Fed's Harker Speech
2:00 PM Fed's Beige Book
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