Jobless Claims

Outlook 10/29: U.S. equity futures pared losses and turned positive on Thursday after economic data came in better than expected. U.S. gross domestic product for the third quarter expanded at a 33.1% annualized pace, its fastest growth ever. Meanwhile, the number of first-time unemployment-benefits filers declined for a second straight week and hit its lowest level since March. Initial weekly U.S. jobless claims came in at 751,000 for the week ending Oct. 24, better than estimated.

/ESZ20 Value: YVAH 3303 YPOC 3284 YVAL 3265 GAP 3269.50

/ES Plan: Yesterday market closed bearish (PBT 3200), but overnight looks more balanced, moving within yesterday's value, so these are the initial balance options for today's opening:

A) If market remains below LIS HVE 3279 with bearish internals, sell towards GAP 3269.50 ONL 3255.75 and HVEs 3232-3200.

B) If market moves above LIS 3279 with bullish internals, buy towards HVE-YVAH 3303 ONH 3310.75 and HVEs 331-3338-3359.

Quotes: “Risk control is the most important thing in trading. If you have a losing position that is making you uncomfortable, the solution is very simple: Get out, because you can always get back in.” Paul Tudor Jones

Market Movers

10:00 Pending Home Sales

10:30 EIA Natural Gas Inventory

1:00 PM 7-Year Note Auction

4:30 PM Money Supply

4:30 PM Fed Balance Sheet

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