Consumer Data

Outlook: World stocks advanced for a fourth straight day on Friday on expectations of broad-based global growth, while the dollar was on course for its worst week in five as investors awaited U.S. inflation data.

/ES Value: YVAH 2552 YPOC 2549 YVAL 2548

/ES Plan: Yesterday market moved above YVAL 2548 with volume falling, with buyers leaning on 2551 towards ATH 2553.50 Current auction range finds balance at 2558. Overnight is bullish, moving a few ticks above yesterday's value so we've 2 options:

A) If market remains above YVAL 2548 with volume rising, try to be a buyer leaning on 2548-2550 and 2551.75 towards PBTs 2558-60. Failure to take out ONH early is signal of weakness.

B) If market goes through YVAL 2548 with volume falling, try to be a seller leaning on 2548-2446 towards LVN 2539 and GAP 2536. Failure to breakdown ONL early is signal of a strength.

Tips: Yesterday and Today bearish volume at record highs is a signal of bullish weakness. That means more sellers at the top than buyers at the bottom of daily range. Under this scenario, the odds of a liquidation break (means a bearish trend sequence > -1%), increase significantly.

Link for Updates (Check it during RTH session)

Today's Economic Calendar

08:30 AM Consumer Price Index
08:30 AM Retail Sales
08:30 AM Fed's Rosengren speech
10:00 AM Business Inventories
10:00 AM Consumer Sentiment
11:30 AM Fed's Kaplan speech
01:00 PM Baker-Hughes Rig Count
01:00 PM Fed's Powell speech
02:00 PM Treasury Budget

Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.

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