ADP Report

Outlook 10/06: U.S. stock futures pointed to a bearish open as October continued to be volatile amid concerns about rising rates, higher inflation, the state of the reopening and the debt limit. September’s ADP report showed that private companies hired at a faster clip than expected last month, despite worries about the Delta variant. Private jobs rose by 568,000 for the month, better than 425,000 estimated. The report could set the tone ahead of the closely followed nonfarm payrolls report on Friday from the Labor Department.

/ESZ21: YVAH 4359 YPOC 4348 YVAL 4319 GAP 4335.50

/ES Plan: Last session market closed bullish, but overnight looks more bearish (PBT 4250), moving below Yesterday's value, so these're the opening and initial balance options for today:

A) If market moves above HVE 4292 with bullish internals, buy towards HVE 4313 YVAL 4319 GAP 4335 and ONH 4339.50

B) If market moves below HVE 4292 with bearish internals, sell towards ONL 4273.75 and HVEs 4250-4232-4205 .

Note: Market opens below previous value area and it's a clearly bearish signal. But, if market begins to trade within value with volume increasing, 'Value Area Rule (VAR)' comes into play. 

Market Movers

9:00 Fed's Bostic Speech

10:30 EIA Petroleum Inventories

11:30 Fed's Bostic Speech

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