Outlook 07/02: U.S. stock futures rose sharply after the release of the government's better-than-expected June employment report. The U.S. economy added 850,000 jobs in June, eclipsing the consensus projection of 706,000. The Labor Department's key report also showed the unemployment ticked up to 5.9%, when economists expected it to come in at 5.6%.
/ESU21: YVAH 4306 YPOC 4300 YVAL 4292 GAP 4308
/ES Plan: Yesterday market closed bullish, but overnight looks more bimodal (LIS 4322), moving above yesterday's range, so these are the initial balance options for today:
A) If market remains above LIS HVE 4322 with bullish internals, buy towards ATH-ONH 4325.75
B) If market moves below LIS 4322 with bearish internals, sell towards GAP-ONL-YVAH 4308-06.
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.
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