Outlook 09/09: U.S. stock futures rebounded on Wednesday as investors snapped up technology shares that were pummeled in the previous three sessions. The moves in the futures market came as investors shrugged off a setback with a coronavirus vaccine and disappointing earnings news. AstraZeneca shares fell in extended trading after the company said a late-stage trial of its Covid-19 vaccine candidate has been put on hold due to a suspected serious adverse reaction in a participant in U.K.
/ESU20 Value: YVAH 3372 YPOC 3361 YVAL 3339 GAP 3336.25
/ES Plan: Yesterday market closed bearish, but overnight looks more bullish (PBT 3431), moving above Yesterday's value, so these are the initial balance options for today's opening:
A) If market remains above LIS YVAH 3372 with bullish internals, buy towards ONH 3378 and HVEs 3399-3449.
B) If market moves below LIS 3372 with bearish internals, sell towards GAP 3336.25 HVE 3319 and ONL 3295.
Note: When market opens and remains above previous value area high, it is a clearly bullish signal. But when a market opens above value but then begins to trade back into value with volume at lows increasing, there's a strong tendency to rotate all the way through the value area.
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