Outlook 12/05: U.S. stock futures slip Tuesday as the recent rally appears to lose steam. The market is coming off a losing session. The pullback came on the back of five consecutive positive weeks for the three major averages. The Fed is currently in a “blackout period,” meaning there will be limited comments from central bank officials ahead of its policy meeting next week. Elsewhere, traders will be watching for the latest Job Openings and Labor Turnover Survey report on Tuesday morning.
/ESZ23 (Dec 2023): YVAH 4580 YPOC 4570 YVAL 4563 GAP 4573.25
/ES Plan: Yesterday market closed balanced, but overnight looks bearish, moving below previous value, so these're the opening and initial balance options for today:
A) If market moves above YVAL 4563 with bullish internals, buy towards GAP-ONH 4573 YVAH 4580 and GAP 4602.
B) If market moves below YVAL 4563 with bearish internals, sell towards ONL 4555 YLOD 4553 and HVEs 4550-4532.
Note: Overnight inventory is 100% bearish. The expected action is a counter-auction; failure to see the counter-auction would be an indication of potential trend day. Market opens below value and if it begins to trade within value, VAR comes into play.
Market Movers
9:45 PMI Composite
10:00 ISM Service Index
10:00 JOLTS
10:00 Fed's Gibson
Follow Twitter updates using TweetDeck old version.
Follow news and listen to order flow at FinancialJuice.
Questions via private twitter direct message (RTH)
