Outlook 11/07: U.S. stock futures slip early Tuesday as a recent rally looked poised for a pause. Market is assessing whether the rally from last week can continue after all three indices wrapped their best week in 2023. The November uptick contrasts a weak October in which the SP500 slipped into correction territory. Investors grew optimistic after the Fed left interest rates unchanged following their meeting last week, which also saw Treasury yields slide and stocks climb.
/ESZ23 (Dec 2023): YVAH 4385 YPOC 4382 YVAL 4376 GAP 4382
/ES Plan: Last session market closed bullish (PBT 4400), but overnight looks more balanced, moving within previous value/range, so these're the opening and initial balance options for today:
A) If market moves above YVAH 4385 with bullish internals, buy towards PBT-HVEs 4400-4406 HVE 4424 and PBT 4433.
B) If market moves below YVAH 4385 with bearish internals, sell towards ONL 4366 YLOD-HVE 4364 and GAP 4333.
Note: Market opens inside value. Don't be 'too anxious'. Let the market lead. You don’t have to be the first. Bad trades occur when you try to force things to happen.
Market Movers
9:50 Fed’s Schmid
10:00 Fed’s Waller
12:00 PM Fed’s Williams
1:30 PM Fed’s Logan
1:00 PM 3-Year Note Auction
3:00 PM Consumer Credit
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