Outlook 10/13: U.S. stock futures are edging lower as consumer prices rise more than expected. The consumer price index for all items rose 0.4% for the month, compared to the 0.3% estimated. On a year-over-year basis, prices increased 5.4% vs. the estimate for 5.3% and the highest since January 1991. However, excluding volatile food and energy prices, the CPI increased 0.2% on the month and 4% year over year, against respective estimates for 0.3% and 4%.
/ESZ21: YVAH 4359 YPOC 4347 YVAL 4341 GAP 4331.75
/ES Plan: Yesterday market closed bearish, but overnight looks more balanced bimodal, moving a few ticks within Yesterday's value, so these're the opening and initial balance options for today:
A) If market moves above YVAL 4341 with bullish internals, buy towards ONH 4354.75 YVAH 4359 and HVEs 4363-4385.
B) If market moves below YVAL 4341 with bearish internals, sell towards GAP 4331.75 ONL 4323.25 and HVEs 4313-4292.
Note: A trading plan is simply a plan to execute your trades. Execute based off the markets reaction to the plan, don't force the plan to work. Be disciplined, but be adaptable.
Market Movers
10:00 Atlanta Fed's Business Inflation Expectations
1:00 PM 30-Year Note Auction
2:00PM Treasury Statement
2:00 PM FOMC Minutes
3:30 PM Fed's Brainard Speech
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