Jobless Claims

Outlook 10/15: U.S. equity futures inched down overnight over economic fallout from resurging coronavirus infections, as well as dwindling hopes for U.S. fiscal stimulus. A record 22 U.S. states recorded more than 1,000 new daily COVID-19 cases, while Treasury Secretary Steven Mnuchin said he did not expect to reach a deal on a coronavirus relief package before the presidential election. On the data front, the latest weekly jobless claims numbers has been released this morning. Jobless claims come in at 898,000 vs 830,000 expected.

/ESZ20 Value: YVAH 3505 YPOC 3481 YVAL 3472 GAP 3480.25

/ES Plan: Yesterday market closed bearish, and overnight continues on that way (PBT 3400), moving below yesterday's range, so these are the initial balance options for today's opening:

A) If market remains below LIS HVE 3449 with bearish internals, sell towards ONL 3433.75 HVE 3420 GAP 3407 and HVE 3398.

B) If market moves above LIS HVE 3449 with bullish internals, buy towards HVE-GAP 3480.25 ONH 3486.50 and HVE 3511.

Note: Overnight inventory is 100% bearish. The expected action is a counter-auction relative to overnight inventory; failure to see the counter-auction would be an indication of a potential trend day.

Market Movers

10:30 EIA Natural Gas Inventory

11:00 EIA Petroleum Inventories

11:00 Fed's Kaplan Speech

11:00 Fed's Quarles Sppech

11:10 Fed's Bullard Speech

2:00 PM Fed's Barkin Speech

4:30 PM Money Supply

4:30 PM Fed Balance Sheet

5:00 PM Fed's Kashkari Speech

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