U.S. GDP data



Outlook: U.S. futures are pointing to a firm open, after the Commerce Department said Gross Domestic Product (GDP) increased 3% annual rate in the July-September period after expanding at a 3.1% pace in the second quarter. The U.S. economy unexpectedly maintained a brisk pace of growth in the third quarter as an increase in inventory investment and a smaller trade deficit offset a hurricane-related slowdown in consumer spending and a decline in construction.

/ES Value: YVAH 2563 YPOC 2562 YVAL 2558

/ES Plan: Yesterday stayed above 2558 and closed near value (GAP 2561). Overnight shows bullish imbalance (PBT 2576.25) moving above yesterday's value, so as usual we've 2 options:

A) If market remains above GAP 2561 with volume rising, try to be a buyer leaning on 2562-2565 towards LVN 2570 and ATH 2577.25 Failure to take out ONH early is signal of weakness.

B) If market moves below GAP 2561 with volume falling, try to be a seller leaning on 2562-2561 towards LVNs 2556-2552-2546 and 2542. Failure to breakdown ONL early is signal of a strength.

Tips: Last Sunday opening printed a new record high (ATH 2577.25) during Globex session and stats say that ON-ATH is usually revisited during U.S. regular hours.

Today's Economic Calendar

10:00 AM Consumer Sentiment
01:00 PM Baker-Hughes Rig Count

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.

U.S. GDP data U.S. GDP data Reviewed by Information on 07.14 Rating: 5

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