Outlook 10/14: U.S. stock futures point to bullish open as jobless claims fall below 300,000 for the first time since the pandemic began. Jobless claims totaled 293,000 for the week ended Oct. 9, below the 318,000 estimate. A separate economic release showed that prices for final-demand wholesale goods increased 0.5% in September, slightly below the 0.6% estimated. However, on a 12-month basis, the index increased 8.6%, a fresh record for a data series that goes back to November 2010 and reflective of the current inflationary climate.
/ESZ21: YVAH 4357 YPOC 4350 YVAL 4336 GAP 4353
/ES Plan: Yesterday market closed bullish, and overnight continues on that way, moving a 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 4399 and HVEs 4406-4423
B) If market moves below HVE 4385 with bearish internals, sell towards HVE 4363 and ONL-GAP 4354-4353.
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
10:00 Fed's Bostic Speech
10:30 EIA Natural Gas Inventory
11:00 EIA Petroleum Inventories
1:00 PM Fed's Williams Speech
1:00 PM Fed's Barkin Speech
4:30 PM Fed Balance Sheet
6:00 PM Fed's Harker Speech
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