Outlook 11/18: U.S. stock futures are still sideways after U.S. homebuilding increased more than expected in October, suggesting the housing market continues to be sustained by historically low mortgage rates even as the economic recovery shows signs of strain amid a resurgence in new Covid-19 infections.
/ESZ20 Value: YVAH 3617 YPOC 3608 YVAL 3599 GAP 3610
/ES Plan: Yesterday market closed balanced, and overnight looks slight bullish, still moving within yesterday's value, so these are the initial balance options for today's opening:
A) If market remains above LIS YPOC 3608 with bullish internals, buy towards YVAH 3617 ONH 3623 GAP 3629 and HVE 3639.
B) If market moves below LIS YPOC 3608 with bearish internals, sell towards YVAL 3599 ONL 3585.75 and GAP 3581.25.
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 Fed's Evans Speech
10:00 Quarterly Services Report
10:30 EIA Petroleum Inventories
12:15 PM Fed's Williams Speech
1:00 PM 20-Year Bond Auction
1:20 PM Fed's Bullard Speech
6:00 PM Fed's Kaplan Speech
6:00 PM Fed's Bostic Speech
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