The Week Start

Outlook: U.S. stock futures pointed to a slight pullback at the open. This week will feature even more earnings news (Apple and Facebok), a crowded economic calendar (FOMC and NFP), and the long-awaited announcement from President Donald Trump on who will be nominated to lead the Federal Reserve.

/ES Value: YVAH 2580 YPOC 2578 YVAL 2569

/ES Plan: Market printed new record high on Friday. Overnight inventory is bearish (PBT 2569), moving within Friday's value, so we've 2 options:

A) If market remains above YVAL 2569 with volume rising, try to be a buyer leaning on 2568-2570 towards GAP 2578.50 and YVAH 2580 Failure to take out ONH early is signal of weakness.

B) If market moves below YVAL 2569 with volume falling, try to be a seller leaning on 2570-2568 towards LVN 2565 and GAP 2561. Failure to breakdown ONL early is signal of a strength.

Tips: Market goes from balance to imbalance and then back to balance. That's the natural auction process. Current auction range 2539-2580 gets balance around 2585.

Today's Economic Calendar

10:30 AM Dallas Fed Manufacturing Survey
03:00 AM Farm Prices

Link for Updates (Check it during RTH session)

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

Questions? Just ask via email or twitter direct message.