Outlook 02/18: U.S. stock futures point to lower open after U.S. jobless claims total 861,000 vs. 773,000 estimated. First-time filings for unemployment insurance jumped higher last week in a sign of continuing strife for the labor market. Continuing claims declined again, edging lower to just below 4.5 million, a drop of 64,000. That data runs a week behind the headline first-time claims total.
/ESH21 Value: YVAH 3930 YPOC 3926 YVAL 3909 GAP 3925.50
/ES Plan: Last session market closed bullish (PBT 3955), but overnight looks more bearish, moving below yesterday's value, so these are the initial balance options for today:
A) If market moves above LIS HVE 3896 with bullish internals, buy towards YVAL 3909 GAP 3926 and ONH 3936.
B) If market moves below LIS HVE 3896 with bearish internals, sell towards HVE 3877 GAP 3867 and HVE 3860.
Note: Keep in mind that new record high has been printed overnight, so it's still pending to be revisited at regular trading hours.
Market Movers
10:30 EIA Natural Gas Inventory
11:00 EIA Petroleum Inventories
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
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