Outlook 09/18: U.S. stock futures held up overnight following another selloff that was led by major tech names. Mixed messaging around a potential coronavirus vaccine, as well as the passage of further fiscal stimulus, weighed on the market, while investors are gearing up for consumer sentiment data. Don't forget that it's also quad witching day, which refers to the simultaneous expiration of market index futures, stock futures, market index options and stock options.
/ESZ20 Value: YVAH 3345 YPOC 3329 YVAL 3320 GAP 3378./ES Plan: Yesterday market closed bullish, and overnight continues on that way, moving above Yesterday's above, so these are the initial balance options for today's opening:
A) If market remains above LIS HVE 3359 with bullish internals, buy towards GAP 3378 and HVE 3398.
B) If market moves below LIS 3359 with bearish internals, sell towards HVE 3344 ONL 3331 and HVE 3319.
Note: Today is quad witching day, the simultaneous expiration of market index futures, stock futures, market index options and stock options. The event can lead to higher volatility and more trading volume.
Market Movers
10:00 Consumer Sentiment
10:00 Leading Indicators
10:00 Fed's Bullard Speech
12:00 PM Fed's Bostic Speech
01:00 PM Baker-Hughes Rig Count
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