Outlook 09/04: In the week ahead, investors will be greeted by a full slate of economic data to kick off September though Monday's Labor Day holiday will make it just a short week for U.S. investors. The highlight this coming week will be the August jobs report due out Friday morning, which is expected to show the U.S. economy created 190k new jobs with unemployment falling to 3.8%, which would match a post-crisis low.
/ESU8 Value: YVAH 2903 YPOC 2896 YVAL 2895
/ES Plan: On Friday market closed leaving a bearish profile (PBT 2885) and overnight shows bimodal profile (LIS 2900), moving within Friday's value, so we've these options:
A) If market remains below LIS 2900 with bearish internals, try to lean on 2900 towards ONL 2891.75 PBT-LVN 2885 and GAP 2876.75 'Look below and fail' is a bullish signal.
B) If market starts to move above LIS 2900 with bullish internals, become a buyer towards HVE 2908 ONH 2912 GAP 2914.75 ATH 2917.50 'Look above and fail' is a bearish signal.
Today's Economic Calendar
09:45 PMI Manufacturing Index
10:00 ISM Manufacturing Index
10:00 Construction Spending
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
Questions? Just ask via email or twitter @verniman direct message.
