Rally stalled

Outlook 11/22: U.S. stock futures rise slightly on Wednesday as yields fell to their lowest level in two months. The yield on the 10-year Treasury declined by more than 2 basis points to 4.394%. Yields fell across the board, with the 30-year Treasury falling by nearly 4 basis points to 4.54%, its lowest point since Sept. 22. Those moves came after the Federal Reserve signaled in its latest meeting notes that monetary policy will remain restrictive, and gave no indication of cutting interest rates anytime soon. The New York Stock Exchange is closed for Thanksgiving on Thursday and will close early on Friday.

/ESZ23 (Dec 2023): YVAH 4554 YPOC 4550 YVAL 4545 GAP 4545.75

/ES Plan: Yesterday market closed balanced, but overnight looks bullish, moving above previous value, so these're the opening and initial balance options for today:

A) If market moves above YHOD-HVE 4567 with bullish internals, buy towards HVE 4590 GAP 4598 HVE 4606 and GAP 4616.

B) If market moves below YHOD-HVE 4567 with bearish internals, sell towards YVAH 4554 HVE 4550 and YVAL-GAP 4545.

Note: Market opens above value and it begins to trade within value, Value Area Rule (VAR) comes into play.

Market Movers

10:00 Consumer Sentiment
10:30 EIA Petroleum Inventories
12:00 PM EIA Natural Gas Inventory
1:00 PM Baker Hughes Rig Count 

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