Outlook 11/27: Stock futures are flat after key inflation reading. U.S. GDP growth was unrevised at 2.8% in Q3, consumer spending was revised down, while durable goods order rose less than expected in October. Initial jobless claims fell more than expected. It’s a shortened trading week in the U.S., with the market dark for the Thanksgiving holiday on Thursday and set to close early Friday. Trading volume is anticipated to remain light.
ESZ24 (DEC2024): YVAH 6036 YPOC 6024 YVAL 6012 GAP 6042
/ES Plan: Yesterday market closed bullish (PBT 6072), but overnight looks more balanced, moving within previous value, so these're the opening and initial balance options for current session:
A) If market moves above YVAH 6036 with bullish internals, buy towards GAP-HVE-YHOD 6040-42 ATH-ETH 6053 and PBT 6072 magnet.
B) If market moves below YVAH 6036 with bearish internals, sell towards YPOC-ONL 6024 YVAL 6012 HVE 5995 and HVE-YLOD 5976.
Note: Market opens in balance. Don't be 'too anxious'. You don’t have to be the first. Bad trades occur when you try to force things to happen.
Market Movers
09:45 AM Chicago PMI
10:00 AM Personal Income and Outlays
10:00 AM Pending Home Sales
10:30 AM EIA Petroleum Inventories
11:00 AM Survey of Business Uncertainty
12:00 PM EIA Natural Gas Inventory
01:00 PM Baker Hughes Rig Count
01:00 PM 7-Year Note Auction
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