Outlook 11/16: U.S. stock futures moved higher after retail sales figures for October came in 1.7% higher than 0.7% in September. Walmart kicked off a busy week of retail earnings by saying third-quarter profit and revenue was well above estimates with U.S. same-store sales jumping 9.2%, excluding fuel. The shares were higher by more than 1% in premarket trading. Home Depot’s third-quarter earnings beat estimates on a 9.8% sales burst. Shares gained 1.2% in premarket.
/ESZ21: YVAH 4685 YPOC 4682 YVAL 4672 GAP 4681.75
/ES Plan: Last session market closed balanced, and overnight continues on that way, moving within yesterday's value, so these're the opening and initial balance options for today:
A) If market moves above YPOC 4682 with bullish internals, buy towards ONH 4687 HVE 4699 and ATH 4711.
B) If market moves below YPOC 4682 with bearish internals, sell towards YVAL 4672 ONL 4671 and HVE 4666.
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
9:15 Industrial Production
10:00 Business Inventories
10:00 NAHB Housing Market Index
12:00 PM Fed's Bostic Speech
2:55 PM Fed's Harker Speech
3:30 PM Fed's Daly Speech
4:00 PM Treasury International Capital
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