Jobless Claims

Outlook 09/02: U.S. stock futures point to bullish open after initial filings for unemployment insurance fell last week to their lowest levels since March 2020, another sign that the labor market is recovering from the Covid-19 era. First-time jobless claims totaled 340,000 for the week ended August 28, compared with the 345,000 estimate. The jobless claims data comes one day ahead of the Labor Department’s all-important monthly jobs report, which will show how many jobs U.S. employers added in August.

/ESU21: YVAH 4531 YPOC 4528 YVAL 4522 GAP 4524.75

/ES Plan: Yesterday market closed bullish, and overnight continues on that way, moving above yesterda's value, so these're the opening and initial balance options for today:

A) If market remains above YVAH 4531 with bullish internals, buy towards ONH 4535.50 ATH-ON 4542.25 and PBT 4550.

B) If market moves below YVAH 4531 with bearish internals, sell towards GAP-YVAL 4524-4522 HVE 4511 and GAP 4504.

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

Market Movers

10:00 Factory Orders

10:30 EIA Natural Gas Inventory

4:30 PM Fed Balance Sheet

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