Outlook 11/11: U.S. stock futures look higher, one day after inflation-driven selling. Inflation is looking a lot less "transitory" after CPI figures released yesterday with the fastest rate since 1990, and while that might cause some worry in the general population, Wall Street appears to be discounting the effects. Many continue to argue that the Fed won't get too aggressive, inflation could moderate next year, while some think stocks could even benefit along with a rise in asset prices.
/ESZ21: YVAH 4679 YPOC 4673 YVAL 4644 GAP 4642.25
/ES Plan: Yesterday market closed bimodal, and overnight continues on that way (LIS 4654), moving within Yesterday's value, so these're the opening and initial balance options for today:
A) If market remains above LIS 4654 with bullish internals, buy towards ONH 4461.50 YVAH 4679 and ATH 4711.
B) If market moves below LIS 4654 with bearish internals, sell towards YVAL 4644 ONL 4638 and HVE 4624.
Note: It's Veterans day and Bond markets, Federal Reserve Banks and U.S. banking institutions will be closed. Market opens inside value, probably with lower volume, so don't be 'too anxious' to trade early. Bad trades occur when you try to force things to happen.
Market Movers
No events scheduled due to Veterans Day
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