Election week

Outlook 11/02: U.S. equity futures rallied in early trading Monday as the stock market looked to bounce back from a brutal week. Ahead of Tuesday’s election, Joe Biden holds a substantial national lead over President Donald Trump. The former vice president garnered 52% of support from registered voters versus 42% for the president. The election could also be crucial for the markets as key policy shifts including further fiscal stimulus hinge on who holds the majority control.

/ESZ20 Value: YVAH 3264 YPOC 3240 YVAL 3230 GAP 3271.75

/ES Plan: Last session market closed bullish, and overnight continues on that way, moving above Friday's range, so these are the initial balance options for today's opening:

A) If market remains above LIS HVE 3299 with bullish internals, buy towards HVE 3318 ONH 3322.50 and HVE 3338.

B) If market moves below LIS HVE 3299 with bearish internals, sell towards HVE 3279 YVAH 3263 and ONL 3243.25.

Note: Overnight inventory is bullish. 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

9:45 PMI Manufacturing Index

10:00 ISM Manufacturing Index

10:00 Construction Spending

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