Outlook 04/05: U.S. stock futures point to a higher open, digesting the March non-farm payrolls report a bit late as markets were closed at the end of the week for Good Friday. The NFP report smashed expectations, with the U.S. adding 916,000 jobs in March, the highest since August 2020. Growth was led by gains in leisure and hospitality, public and construction, while the unemployment rate fell to 6%.
/ESM21: YVAH 4005 YPOC 4001 YVAL 3986 GAP 4014
/ES Plan: Last session market closed bullish, and overnight continues on that way, printing a new record high, so these are the initial balance options for today:
A) If market moves above LIS ATH 4038 with bullish internals, buy towards PBT 4042.
B) If market remains below LIS HVE 4038 with bearish internals, sell towards ONL 4021.
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 new record high has been printed overnight, so it's still pending to be revisited at regular trading hours.
Market Movers
9:45 PMI Composite Final
10:00 ISM Service Index
10:00 Factory Orders
12:30 PM Investor Movement Index
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