Feeling flat

Outlook 10/03: Stock futures tick lower as investors look ahead to September’s payrolls report due later this week, while tensions in the Middle East persist. lower Thursday as investors look ahead to September’s payrolls report due later this week, while tensions in the Middle East persist. Stock market is grappling with escalating tensions in the Middle East, a port strike and election uncertainty but liquidity is key and there is plenty of it now that the Fed has started to cut interest rates. That means that markets can continue to grind higher.

ESZ24 (DEC2024): YVAH 5767 YPOC 5762 YVAL 5746 GAP 5766

/ES Plan: Yesterday market closed bullish (PBT 5800), 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 5746 with bullish internals, buy towards GAP-YVAH 5767 ONH-YHOD 5772 and PBT 5800 ATH-ETH 5830 magnet. 

B) If market moves below YVAL 5746 with bearish internals, sell towards ONL-YLOD 5725 HVE 5710 and PBT 5700 GAPs 5691-5654 magnets.

Note: Market opens below value and if it begins to trade within value, VAR comes into play. 

Market Movers

9:45 PMI Composite Final

10:00 Factory Orders

10:00 ISM Service Index

10:30 EIA Natural Gas Inventory

10:40 Fed's Kashkari Speech

10:40 Fed's Bostic Speech

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