Outlook 09/28: U.S. equity futures are pointing up more than 1% ahead of a light earnings and conference calendar. Underpinning some of the investor optimism are renewed hope over a new stimulus deal making its way out of Washington D.C. in the next few weeks and a wave of M&A.
/ESZ20 Value: YVAH 3296 YPOC 3288 YVAL 3226 GAP 3287.50
/ES Plan: Last session market closed bullish (PBT 3369), and overnight continues on that way, moving above yesterday's value, so these are the initial balance options for today's opening:
A) If market remains above LIS HVE 3331 with bullish internals, buy towards ONH 3337 HVEs 3344-3359 and GAP 3378.
B) If market moves below LIS HVE 3331 with bearish internals, sell towards HVEs 3318-3302 and YPOC-ONL 3287.50.
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.
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