Outlook 10/11: U.S. stock futures are edging lower once again in volatile October trade as investors continue to digest the weaker-than-expected jobs market published on Friday: The Labor Department reported that the economy added just 194K jobs in September, compared to estimates for 500K, giving way to debate about future tapering. Some feel that could push the Fed's timeline into next year, though others feel it had to be an extremely bad report to derail plans for removing stimulus.
/ESZ21: YVAH 4397 YPOC 4393 YVAL 4385 GAP 4379.25
/ES Plan: Last session market closed balanced, but overnight looks more bearish, moving below Friday's value, so these're the opening and initial balance options for today:
A) If market remains above HVE 4363 with bullish internals, buy towards GAP 4379.25 HVE 4385 ONH 4388 and HVE 4406.
B) If market moves below HVE 4363 with bearish internals, sell towards ONL 4352.25 and HVEs 4313-4292-4267-4250.
Note: It's Columbus Day and U.S. stock markets will be open. However, Bond markets, Federal Reserve Banks and most of the nation's banking institutions will be closed.
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