Jobless Claims

Outlook 05/27: U.S. stock futures look balanced after jobs picture continues improvement as unemployment claims slide. The U.S. jobs market edged closer to its pre-pandemic self last week as initial jobless claims totaled just 406,000 for the week ended May 22, the Labor Department reported Thursday. While that level is still well above the norm before Covid-19 struck in March 2020, it is the closest to the previous trend since the crisis began and a decline from the previous week’s 444,000. 

/ESM21: YVAH 4197 YPOC 4192 YVAL 4189 GAP 4193.75

/ES Plan: Yesterday market closed balanced, and overnight continues on that way, moving above yesterday's value, so these are the initial balance options for today:

A) If market remains above YVAH 4197 with bullish internals, buy towards HVE 4213 PBT 4229 and ATH 4238.

B) If market moves below YVAH 4197 with bearish internals, sell towards YVAL 4189 HVE 4163 and GAP 4157.

Note: Remember that new record high has been printed overnight, so it's still pending to be revisited at regular trading hours.

Market Movers

10:00 Pending Home Sales

10:30 EIA Natural Gas Inventory

11:00 Kansas City Fed Mfg Survey

1:00 PM Results of $62B, 7-Year Note Auction

4:30 PM Fed Balance Sheet

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