Debt drama

Outlook 10/07: U.S. stock futures pointed to a bullish open as Democratic senators signaled they were receptive to a debt ceiling offer from Senate GOP leader. McConnell late Wednesday said his debt ceiling offer would give Democrats time to use their majorities on Capitol Hill to craft a bill to raise the borrowing limit on their own without Republican votes. The deadline to take action on the debt limit and avoid a U.S. credit default is Oct. 18. If Democrats accept McConnell's offer, lawmakers will again face pressing deadlines to fund government and raise debt limit before heading home for holidays.

/ESZ21: YVAH 4320 YPOC 4299 YVAL 4279 GAP 4354.75

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

A) If market remains above HVE 4385 with bullish internals, buy towards ONH 4398.50 HVE 4406-4423 and GAP 4432.

B) If market moves below HVE 4385 with bearish internals, sell towards HVE 4363 ONL 4355 and HVEs 4313-4292.

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 potential trend day.

Market Movers

10:30 EIA Natural Gas Inventory
11:45 Fed’s Mester Speech
3:00 PM Consumer Credit
4:30 PM Fed Balance Sheet
4:30 PM Money Supply

Follow updates using TweetDeck. Primary twitter language is English. 
Follow the market news and listen to the order flow via FinancialJuice.

Questions via twitter direct message (RTH)