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Outlook 11/04: U.S. equity futures were volatile overnight with the presidential election still unsettled and vote-counting in crucial swing states Michigan, Pennsylvania and Wisconsin that could take days. Besides the future of the presidency, control of Congress is hanging in the balance, and in particular the Senate, which is key to how much money will be poured into the economy to battle COVID-19. While some of the races are too close to call, Democrats look set to retain control of the House of Representatives, while the GOP is poised to keep a majority in the Senate.

/ESZ20 Value: YVAH 3380 POC 3365 YVAL 3354 GAP 3350

/ES Plan: Yesterday market closed bullish, but overnight looks more balanced, moving above yesterday's value, so these are the initial balance options for today's opening:

A) If market moves above LIS HVE 3400 with bullish internals, buy towards HVE 3420 ONH 3432.25 and GAP 3451.

B) If market moves below LIS HVE 3400 with bearish internals, sell towards HVE 3383 YVAH 3380 and YVAL 3354.

Note: Overnight inventory is balanced. Trading from responsive versus initiative would be preferred, so don't be 'too anxious'. If we're within value we want to have some patience until market shows a clear bias.

Market Movers

9:45 PMI Composite Final

10:00 ISM Non-Manufacturing Index

10:30 EIA Petroleum Inventories

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