Outlook 10/15: U.S. stock futures point to bullish open based on stellar earnings, and surprise retail sales increase. Earnings momentum continued as Goldman Sachs’ third-quarter results beat significantly on the top and bottom line. Retail sales posted a surprise increase in September, rising 0.7%. Economists were expecting a 0.2% decline. The University of Michigan Consumer Sentiment will hit the tape at 10am ET.
/ESZ21: YVAH 4435 YPOC 4425 YVAL 4404 GAP 4431
/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 4446 with bullish internals, buy towards ONH 4453.75 and HVEs 4464-4483.
B) If market moves below HVE 4446 with bearish internals, sell towards YVAH 4435 GAP 4431 and HVE 4423.
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.
Market Movers
10:00 Business Inventories
10:00 Consumer Sentiment
11:45 Fed's Bullard Speech
12:20 Fed's Williams Speech
1:00 PM Baker-Hughes Rig Count
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