Strong Q3

Outlook 10/19: U.S. stock futures gained on Tuesday as major companies continued to report strong third-quarter earnings, easing concerns that persistent Covid cases and rising costs would derail corporate America’s profit recovery. As of Tuesday morning, 82% of SP500 companies that have reported earnings beat expectations. Taking into account those reports and estimates for those to come, third-quarter profit growth will come in at 30%. While reports have been strong, investors are looking for commentary about supply chain issues and inflation.

/ESZ21: YVAH 4480 YPOC 4471 YVAL 4457 GAP 4476.75

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

A) If market remains above HVE 4483 with bullish internals, buy towards HVE 4500 ONH 4504.50 HVE 4511 and GAP 4534.

B) If market moves below HVE 4483 with bearish internals, sell towards YVAH 4480 GAP 4476.75 ONL 4471.75 and YVAL 4457.

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

11:00 AM Fed's Daly Speech

01:15 PM Fed's Bowman Speech

02:50 PM Fed's Bostic Speech

03:00 PM Fed's Waller Speech

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