Vaccine hope

 Outlook 11/09: U.S. equity futures jumped 4% after drugmakers Pfizer and BioNTech said trial data indicated their Covid-19 vaccine is 90% effective. Markets were already set to continue their big post-election rally Monday as Democrat Joe Biden defeated incumbent Donald Trump in the U.S. presidential race to become president elect. In the meantime, the chances of a “blue wave” that sweeps Democrats into the majority of both the Senate and the House have waned, meaning drastic policy changes such as tax hikes are less likely.

/ESZ20 Value: YVAH 3509 POC 3501 YVAL 3489 GAP 3506

/ES Plan: Last session market closed bullish, and overnight continues on that way, moving above Friday's range, so these are the initial balance options for today's opening:

A) If market remains above LIS 3534 with bullish internals, buy towards ONH 3668 and PBT 3700.

B) If market moves below LIS 3534 with bearish internals, sell towards SoC 3554 and GAP 3506.

SOC: Scene of Crime, zone where a news-based impulse move was initiated and is therefore susceptible to be visited again.

Note: Overnight inventory is 100% bullish. The expected action is a counter-auction relative to overnight inventory; failure to see the counter-auction would be an indication of a potential trend day. Remember that record high has been printed overnight, so it's still pending to be revisited at regular trading hours.

Market Movers

12:30 PM Investor Movement Index

1:00 PM Results of $54B, 3-Year Note Auction

1:30 PM Fed's Mester Speech

2:20 PM Fed's Harker Speech

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