Outlook 10/16: U.S. stock index futures are pointing to a firmer open ahead of fresh economic data that includes numbers on industrial production, the Housing Market Index and JOLTS. Earnings season is also kicking into high gear as Netflix becomes the first large technology company to report results. On the radar are also quarterly figures from BlackRock, Goldman Sachs, Morgan Stanley, Johnson & Johnson and IBM.
/ESZ18 Value: YVAH 2769 YPOC 2765 YVAL 2754
/ES Plan: Yesterday market closed balanced but overnight looks bimodal (LIS 2765), moving above Yesterday's value. We're moving into 2788-2765 auction range, so we've these options:
A) If market remains above YPOC-LIS 2765 with bullish internals, become a buyer towards YHOD 2778.75 LVN 2788 and HVEs 2796-2808-2815.
B) If market starts to move below 2765 with bearish internals, sell towards YVAL 2754 GAP 2748.75 ONL 2745.50 and HVE 2742-2735-2729.
Today's Economic Calendar
09:15 Industrial Production
10:00 NAHB Housing Market Index
10:00 JOLTS
04:00 PM Treasury International Capital
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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