Earnings in Focus

Outlook: With U.S. markets printing new record highs two of its most prominent members will report results. In the morning, Goldman Sachs will report earnings. Goldman’s results in its trading business will also be closely watched by investors after last week saw both JP Morgan and Citi report sharp declines in those business lines. Also in the financial space, Morgan Stanley will report results in the morning.

/ES Value: YVAH 2556 YPOC 2555 YVAL 2553

/ES Plan: After a new record high, market finally closed yesterday leaving a bimodal profile (LIS 2554.75). Current auction range finds balance at 2560-2563. Overnight is balanced, moving within yesterday's value so we've 2 options:

A) If market remains above LIS 2554.75 with volume rising, try to be a buyer leaning on 2555 towards PBTs 2560 and 2563. Failure to take out ONH early is signal of weakness.

B) If market goes through LIS 2554.75 with volume falling, try to be a seller leaning on 2554 towards LVN 2550 and PBT 2545. Failure to breakdown ONL early is signal of a strength.

Link for Updates (Check it during RTH session)

Today's Economic Calendar

08:30 AM Import/Export Prices
08:55 AM Redbook Chain Store Sales
09:15 AM Industrial Production
10:00 AM NAHB Housing Market Index
01:00 AM FED's Harker speech
02:00 PM Treasury Budget
04:00 PM Treasury International Capital

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

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