Trump wins

Outlook 11/05: Stock futures point for a booming rally Wednesday as Donald Trump won the 2024 presidential election. Trump defeated his Democratic rival, Kamala Harris, by winning 277 Electoral College votes, including in key states such as Pennsylvania, North Carolina and Georgia. Investments seen as beneficiaries under a Trump presidency erupted as the former president appeared set to claim victory. Tesla, whose CEO Elon Musk is a prominent backer of Trump, saw shares surge 13% in premarket trading. Bank shares got a boost with JPMorgan, Bank of America and Wells Fargo all jumping at least 6%. For now, investor sentiment is pro-growth, pro-deregulation, and pro-markets, as seen in the overnight market action.

ESZ24 (DEC2024): YVAH 5810 YPOC 5800 YVAL 5781 GAP 5820

/ES Plan: Yesterday market closed bullish, and overnight continues on that way, moving above previous value/range, so these're the opening and initial balance options for today:

A) If market remains above HVE 5928 with bullish internals, buy towards ATH-ETH 5954 and PBTs 5967-6072 magnets.

B) If market moves below HVE 5928 with bearish internals, sell towards HVEs 5893-5850-5825 and GAP 5820 magnet. 

Note: Overnight inventory is 100% bullish. The expected action is a counter-auction; failure to see the counter-auction would be an indication of potential bullish trend day. New record high has been printed overnight, so it's still pending to be revisited at regular hours.

Market Movers

 9:45 AM PMI Composite Final

10:30 AM EIA Petroleum Inventories

11:00 AM Treasury Buyback Announcement

01:00 PM $25B, 30-Year Bond Auction

02:00 PM Treasury Buyback Results 

Follow Twitter updates using TweetDeck old version.

Follow news and listen to order flow at FinancialJuice.

Questions via private twitter direct message (RTH)