Outlook 11/08: U.S. stock futures rose in preopening Tuesday after Wholesale prices rose 8.6% from a year ago in October, their highest annual pace in records going back nearly 11 years. The government’s producer price index, which serves as a gauge of final demand prices from goods-producers, rose 0.6% for the month, an indicator that inflation pressures are continuing to pressure the U.S. economy. The monthly pace was faster than the 0.5% increase in September.
/ESZ21: YVAH 4700 YPOC 4694 YVAL 4690 GAP 4692.75
/ES Plan: Yesterday market closed balanced, but overnight looks more bullish (PBT 4710), still moving within Yesterday's value, so these're the opening and initial balance options for today:
A) If market remains above YPOC 4694 with bullish internals, buy towards YVAH 4700 PBT 4710 and ATH 4711.75
B) If market moves below YPOC 4694 with bearish internals, sell towards YVAL 4690 ONL 4680 and GAP 4672.75
Note: Market opens inside value, so don't be 'too anxious' to trade early. Bad trades occur when you try to force things to happen.
Market Movers
11:35 Fed’s Daly Speech
1:00 PM 10-Year Note Auction
1:30 PM Fed’s Kashkari Speech
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