Outlook 10/20: U.S. stock futures were flat Wednesday as corporate earnings continue to dominate investors' attention. More than 70 of the SP500 companies report this week, including Verizon before the bell and IBM after the close. Tesla is also scheduled to deliver quarterly numbers after the bell. In Wednesday's premarket trading, Netflix shares fell and United Airlines stock rose after issuing financial results late Tuesday.
/ESZ21: YVAH 4510 YPOC 4507 YVAL 4493 GAP 4514.25
/ES Plan: Yesterday market closed bullish (PBT 4542), but overnight looks more balanced, moving few ticks above Yesterday's value, so these're the opening and initial balance options for today:
A) If market remains above HVE 4511 with bullish internals, buy towards ONH 4517.25 GAP 4534 and PBT 4542.
B) If market moves below HVE 4511 with bearish internals, sell towards ONL 4504 HVE 4500 and YVAL 4493.
Note: Market opens above previous value area and it's a clearly bullish signal. But, if market begins to trade within value with volume increasing, 'Value Area Rule (VAR)' comes into play. Remember that last record high has been printed overnight, so it's still pending to be revisited at regular trading hours.
Market Movers
12:00 PM Fed's Evans Speech
12:00 PM Fed's Bostic Speech
12:00 PM Fed's Kashkari Speech
1:00 PM Fed's Quarles Speech
1:00 PM 20-Year Bond Auction
1:45 PM Fed's Bullard Speech
2:00 PM Fed's Beige Book
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