Rough Month

Outlook 09/30: U.S. stock futures point to lower open as markets prepare to close out a rough month. On the data front, weekly jobless claims totaled 362,000 vs. 335,000 estimated. At the same time, the Commerce Department set its third look at second-quarter gross domestic product. The economy's annual growth rate in Q2 is 6.7% vs. 6.6% that was estimated. The Senate has reached a deal to avoid a government shutdown, Majority Leader Chuck Schumer said late Wednesday. But it won't include a debt-ceiling suspension. Congress has to pass a funding bill before midnight to avoid a shutdown. Federal Reserve Chairman Jerome Powell returns to Capitol Hill, this time to testify before the House Financial Services Committee. 

/ESZ21: YVAH 4368 YPOC 4356 YVAL 4349 GAP 4357

/ES Plan: Yesterday market closed bearish (PBT 4333), and overnight continues on that way (PBT 4340), moving within Yesterday's value, so these're the opening and initial balance options for today:

A) If market moves above HVE 4363 with bullish internals, buy towards HVE 4385 ONH 4389 and HVEs 4406-4423.

B) If market remains below HVE 4363 with bearish internals, sell towards ONL 4355.25 GAP 4334.50 and HVE 4313.

Note: Market opens inside value, so don't be 'too anxious' to trade early. Bad trades occur when you try to force things to happen, don’t force it. 

Market Movers

10:00 Pending Home Sales
10:00 State Street Investor Confidence Index
10:30 EIA Petroleum Inventories
11:00 Survey of Business Uncertainty
11:45 Jerome Powell Speech
1:00 PM Fed’s Daly Speech
2:00 PM Fed’s Bostic Speech
5:00 PM Fed’s Williams Speech

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