Tax Update

U.S. stocks climb powered by gains in financial shares as expectations for a December rate hike grew and hopes Trump's administration may be making progress on a new tax plan. Trump proposed the biggest tax overhaul in three decades, but offered scant details about how to pay for the cuts without dramatically driving up federal deficits.

/ES outlook: Market started to show weakness after 2505 gap has been filled. All initial buying at 2503 has been sweeped at 2493 and then bounced back to value 2497. Buyers have added fuel above LIS-CLVN 2497 and climbed above LVN-MID-VWAP 2499.25 and LVN 2501.50 towards PBT 2508.75 Next targets 2511.50 and 2516.50

Tips: Current auction goal is to sweep the range and fill the bimodal CLVN 2497. The usual process of any auction starts from balance 'D', breaks, becomes into bimodal 'B', or also could becomes a trimodal 'E' or multimodal, and finally back to fill the holes towards a new balance 'D'.

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