Wild Swings

Outlook 10/30: U.S. equity futures point to lower open as fiscal stimulus talks broke down, coronavirus cases rose and a slew of companies reported quarterly earnings. Talks between Democrats and the White House on an addition Covid-19 stimulus package stalled Thursday, five days before the Nov. 3 election. The latest surge in U.S. coronavirus cases is pushing total infections in the nation toward 9 million with at least 228,675 deaths. Shares of Apple, Amazon and Facebook were lower in the premarket after they reported quarterly results late Thursday.

/ESZ20 Value: YVAH 3310 YPOC 3290 YVAL 3267 GAP 3293.50

/ES Plan: Yesterday market closed bearish, but overnight looks more bullish (PBT 3318), moving within yesterday's value, so these are the initial balance options for today's opening:

A) If market moves above LIS HVE 3279 with bullish internals, buy towards ONH 3290.75 GAP 3293.50 YVAH 3310 and HVE 3318.

B) If market moves below LIS HVE 3279 with bearish internals, sell towards YVAL 3267 HVE 3232 ONL 3226 and HVE-PBT 3200.

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

9:45 Chicago PMI

10:00 Consumer Sentiment

1:00 PM Baker-Hughes Rig Count

3:00 PM Farm Prices

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