Outlook 11/12: U.S. stock futures were mixed on Thursday morning trading as markets continued to churn following big gains earlier in the week. Weekly jobless claims fall again in another sign of labor market improvement. Jobless claims totaled 709,000 last week, the Labor Department reported, below the 740,000 forecast. That represented a decline from the 757,000 total a week ago. More than 21 million Americans are still collecting benefits, though the total is declining.
/ESZ20 Value: YVAH 3571 POC 3559 YVAL 3556 GAP 3573.25
/ES Plan: Yesterday market closed bullish (PBT 3586), but overnight looks more bearish, moving a few ticks below yesterday's value, so these are the initial balance options for today's opening:
A) If market remains below LIS YVAL 3556 with bearish internals, sell towards HVE 3542 ONL 3538.25 and HVE 3523.
B) If market moves above LIS 3556 with bullish internals, buy towards YVAH 3571 GAP 3573.25 ONH 3574.50 and HVE 3589.
Note: Market opens below previous value area and if it remains below value, it is a clearly bearish signal. But, if market begins to trade within value with volume increasing, 'value area rule' comes into play.
Market Movers
10:00 Atlanta Fed's Business Inflation Expectations
11:00 EIA Petroleum Inventories
1:00 PM 30-Year Note Auction
1:00 PM Fed's Evans Speech
2:00 PM Treasury Budget
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
Questions via @verniman direct message (RTH) or email (After Close).
Follow alerts using TweetDeck. Primary twitter language is English.
No unauthorized reproduction of this service without permission.
