Outlook 10/14: U.S. equity futures inched down overnight after snapping a four-day winning streak on Tuesday. The latest reading on wholesale inflation has been released today, with September producer prices increasing 0.4%, just above the 0.3% rise in August. On the stimulus front, House Speaker Nancy Pelosi insisted the Trump administration revamp its latest $1.8T offer, while Senate Republican leader Mitch McConnell pushed a smaller-scale strategy that she quickly rebuffed.
/ESZ20 Value: YVAH 3523 YPOC 3513 YVAL 3506 GAP 3505.25
/ES Plan: Yesterday market closed balanced, and overnight continues on that way, moving within yesterday's value, so these are the initial balance options for today's opening:
A) If market moves above LIS HVE 3511 with bullish internals, buy towards ONH 3524 and HVE 3541.
B) If market moves below LIS HVE 3511 with bearish internals, sell towards ONL 3493.75 and HVE 3480.
Note: Overnight inventory is balanced and market opens within previous value area. Trading from responsive versus initiative is expected, so don't be 'too anxious' to trade early. If we're within value we want to have some patience until market breaks previous value.
Market Movers
10:00 Atlanta Fed's Business Inflation Expectations
6:00 PM Fed's Barkin Speech
Questions via @verniman direct message (RTH) or email (After Close).
Follow alerts using TweetDeck. Primary twitter language is English.
No unauthorized reproduction of this service without permission.
