Outlook 09/06: U.S. stock index futures are inching up ahead of the open, recovering from two rough trading sessions that were dented by worries over trade and the emerging markets. Market's attention shifted to the U.S. labor market with ADP private payroll and jobless claims. Private payrolls growth in August slowed to its weakest level since October, adding 163k in Aug vs 190k estimated. September is historically a rocky month for equities, and worse in midterm election years.
/ESU8 Value: YVAH 2892 YPOC 2888 YVAL 2883
/ES Plan: Yesterday market closed leaving a bullish profile (PBT 2898) and overnight looks bimodal (LIS 2888), moving within Yesterday's value, so we've these options:
A) If market remains above LIS 2888 with bullish internals, become a buyer towards ONH 2892.75 PBT-GAP 2898.50 and GAP 2908.25 'Look above and fail' is a bearish signal.
B) If market starts to move below LIS 2888 with bearish internals, try to lean on 2888 towards ONL 2882 GAP 2876.75 and HVE 2870 'Look below and fail' is a bullish signal.
Today's Economic Calendar
09:45 PMI Services Index
10:00 ISM Non-Manufacturing Index
10:00 Factory Orders
10:00 Fed's Williams Speech
10:30 EIA Natural Gas Inventory
11:00 EIA Petroleum Inventories
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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