Outlook 10/27: U.S. equity futures rose early Tuesday as markets attempted to rebound from a massive sell-off a day earlier. Market are monitoring coronavirus aid package negotiations. House Speaker Nancy Pelosi’s spokesperson said on Twitter that the Democratic leader remains “optimistic” about a pre-election deal after Monday’s phone call with Treasury Secretary Steven Mnuchin.
/ESZ20 Value: YVAH 3407 YPOC 3384 YVAL 3356 GAP 3395.50
/ES Plan: Last session market closed balanced, and overnight continues on that way, moving within yesterday's range, so these are the initial balance options for today's opening:
A) If market moves above LIS HVE 3398 with bullish internals, buy towards ONH 3410 HVEs 3420-3431 and GAP 3451.25.
B) If market moves below LIS HVE 3398 with bearish internals, sell towards ONL 3390 and HVEs 3383-3359 and GAP 3352.
Note: Market opens within previous value area, a signal of balanced market. Trading from responsive versus initiative would be preferred, so don't be 'too anxious' to trade early. If we're within value we want to have some patience until market breaks.
Market Movers
10:00 Consumer Confidence
10:00 Richmond Fed Mfg.
1:00 PM 2-Year Note Auction
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