Rolling along

Outlook 11/08: U.S. stock futures little changed Wednesday after the SP500 and Nasdaq notched their longest winning streaks in about two years.  The Dow, meanwhile, is on its longest positive streak since July. The gains come as Treasury yields ease a bit from recent highs as the Federal Reserve continues to hold pat on rates and recent jobs data indicate some economic softening. Investors are also keeping an eye on earnings, with a few big names left to report, Disney on Wednesday, and Walmart and Target next week, as the season winds down.

/ESZ23 (Dec 2023): YVAH 4403 YPOC 4397 YVAL 4385 GAP 4395.50

/ES Plan: Last session market closed bullish (PBT 4428), 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 4403 with bullish internals, buy towards HVE 4424 PBTs 4428- 4433 and GAP 4445.

B) If market moves below YVAH 4403 with bearish internals, sell towards ONL 4387 HVEs 4385-4364 and GAP 4333.

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

Market Movers

10:00 Wholesale Inventories 
10:30 EIA Petroleum Inventories
1:00 PM 10-Year Note Auction
1:40 PM Fed’s Williams
2:00 PM Fed’s Barr
4:45 PM Fed’s Jefferson

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