Outlook 11/25: U.S. stock futures were relatively flat after weekly jobless claims were higher than expected as labor market takes hit from rising Covid cases. The pace of first-time filings for jobless claims picked up last week, with the jobs market showing increasing vulnerability to the coronavirus spread. Claims totaled 778,000 for the week ended Nov. 21, ahead of the 733,000 expected. The economic calendar is jampacked today with the markets closed Thursday for Thanksgiving and only a half-day of trading Friday.
/ESZ20 Value: YVAH 3639 YPOC 3630 YVAL 3607 GAP 3633.50
/ES Plan: Yesterday market closed bullish (PBT 3684), but overnight looks more bearish (PBT 3607), moving within yesterday's value, so these are the initial balance options for today's opening:
A) If market moves above LIS YPOC 3630 with bullish internals, buy towards YVAH-HVE 3639 ONH 3655 and ATH 3668.
B) If market moves below LIS YPOC 3630 with bearish internals, sell towards YVAL-PBT 3607 HVE 3588 and GAP 3576.
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 New Home Sales
10:00 Consumer Sentiment
10:00 Personal Income and Outlays
10:00 State Street Investor Confidence Index
10:30 EIA Petroleum Inventories
11:00 Survey of Business Uncertainty
12:00 PM EIA Natural Gas Inventory
1:00 PM Baker-Hughes Rig Count
2:00 PM FOMC Minutes
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