Jobs Report

Outlook 11/05: U.S. stock futures rose in morning trading Friday after the October jobs report came in better than expected, boosting optimism about the economic recovery. Job creation roars back in October as payrolls rise by 531,000 vs. 450,000 estimated. The unemployment rate edges down to 4.6%. Friday’s report carried extra weight for economic forecasters as it's the first full month of hiring following the expiration of federal enhanced unemployment benefits, while public health has simultaneously improved and labor demand has remained strong.

/ESZ21: YVAH 4669 YPOC 4662 YVAL 4657 GAP 4672.75

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

A) If market remains above LIS 4690 with bullish internals, buy towards ATH-ONH 4697 and PBT 4700.

B) If market moves below LIS 4690 with bearish internals, sell towards GAP 4672.75 and YVAH 4669.

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. Remember that new record high has been printed overnight, so it's still pending to be revisited at regular trading hours.

Market Movers

9:30 Fed's George Speech

1:00 PM Baker-Hughes Rig Count

3:00 PM Consumer Credit

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