Outlook 11/20: U.S. stock futures look balanced as markets enter the holiday-shortened trading week. The major U.S. indexes have all notched three-week winning streaks for the first time since the summer. Equities got a boost after inflation came in cooler than expected in October, lifting hopes that the Federal Reserve may not need to hike rates more to tame stubbornly high prices. The stock market will close on Thursday for the Thanksgiving holiday, and then shutter early at 1 p.m. ET on Friday.
/ESZ23 (Dec 2023): YVAH 4529 YPOC 4527 YVAL 4517 GAP 4525.25
/ES Plan: Last session market closed balanced, and overnight continues on that way, moving within previous value, so these're the opening and initial balance options for today:
A) If market moves above YVAH 4529 with bullish internals, buy towards ONH 4534 YHOD 4540 HVE 4550 and GAP 4559.
B) If market moves below YVAH 4529 with bearish internals, sell towards HVE 4522 ONL 4520 YVAL 4517 and YLOD 4512.
Note: If market opens above value and it begins to trade within value, Value Area Rule comes into play. It's Monday and usually the quietest day of the week. Many traders want to take their time analyzing the market, and usually, there are few economic releases.
Market Movers
10:00 US Leading Index
1:00 PM 20-Year Bond Auction
Follow Twitter updates using TweetDeck old version.
Follow news and listen to order flow at FinancialJuice.
Questions via private twitter direct message (RTH)
