Outlook 11/19: U.S. stock futures move sideways after the pace of workers filing for unemployment claims picked up last week and was a bit higher than expected. Jobless claims totaled 742,000 for the week, ahead of the 710,000 estimate. That total also represented an acceleration from the previous week’s total of 709,000 and a continuation of the job market struggles since the coronavirus pandemic hit in early March.
/ESZ20 Value: YVAH 3616 YPOC 3611 YVAL 3592 GAP 3561.75
/ES Plan: Yesterday market closed bearish, but overnight looks balanced, moving below yesterday's range, so these are the initial balance options for today's opening:
A) If market remains above LIS YLOD 3556 with bullish internals, buy towards ONH 3573.75 HVE 3588 and YVAL 3592.
B) If market moves below LIS YLOD 3556 with bearish internals, sell towards ONL 3542.50 GAP 3538 and HVE 3522.
Note: Remember that record high has been printed overnight, so it's still pending to be revisited at regular trading hours.
Market Movers
10:00 Leading Indicators
10:00 Existing Home Sales
10:00 E-Commerce Retail Sales
10:30 EIA Natural Gas Inventory
11:00 Kansas City Fed Mfg Survey
12:35 PM Fed's Bowman Speech
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
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