Outlook 03/04: U.S. stock futures move higher after weekly jobless claims rise less than expected for an economy struggling to shake off impacts from a pandemic that has been around now for nearly a year. Labor Department reported first-time filings for unemployment insurance in the week ended Feb. 27 totaled a seasonally adjusted 745,000, a touch below the estimate of 750,000. Continuing claims again decreased, falling 124,000 below 4.3 million, new pandemic-era low.
/ESH21 Value: YVAH 3862 YPOC 3839 YVAL 3832 GAP 3814.75
/ES Plan: Yesterday market closed bearish, but overnight looks more bullish (PBT 3839), still moving below yesterday's value, so these are the initial balance options for today:
A) If market moves above LIS HVE 3821 with bullish internals, buy towards YVAL 3832 YPOC-PBT 3839 and YVAH-HVE 3862 (VAR).
B) If market remains below LIS HVE 3821 with bearish internals, sell towards HVE 3784 ONL 3777.50 GAP 3757 and HVE 3740.
Note: yesterday market printed a 'Value Transition' and that means a change on value perception. We've to watch closely if higher edge HVE 3862 could be broken and back to previous value higher.
Market Movers
10:00 Factory Orders
10:30 EIA Natural Gas Inventory
4:30 PM Fed Balance Sheet
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