Outlook 06/05: Markets will get one of the week's big economic data today as the BLS will release its job openings and labor turnover survey, also known as the JOLTS report, for April at 10AM ET. In March, a record 6.6 million jobs were open and economists have closely watched this report as a sign that labor shortages persist across the economy.
/ESM8 Value: YVAH 2747 YPOC 2746 YVAL 2744
/ES Plan: Yesterday market closed bullish (PBT 2753) Overnight inventory is bullish (GBT 2756), moving within yesterday's value, so as usual we've these options:
A) If market remains above YVAL 2744 with bullish internals, be a buyer leaning on 2744 towards ONH 2751.75 PBT 2753 and GAP 2755.50 'Look below and fail' is a bullish signal.
B) If market starts to move below YVAL 2744 with bearish internals, become a seller leaning on 2744 towards LVN 2736 and GAP 2733.50 'Look above and fail' is a bearish signal.
Tips: Use Volume Profile to identify rejection/acceptance areas for holding or failing, plus non-parameter based indicators (VWAP-Internals)
Today's Economic Calendar
09:45 PMI Services Index
10:00 ISM Non-Manufacturing Index
10:00 JOLTS Report
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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