Outlook 10/18: U.S. stock index futures are under pressure again as investors digest minutes from the Fed's most recent meeting that highlighted it was staying on course for rate hikes despite growing criticism from President Trump. The yield on the benchmark 10-year Treasury note and 30-year Treasury bond were 3 bps higher at 3.21% and 3.38%, respectively.
/ESZ18 Value: YVAH 2818 YPOC 2811 YVAL 2802
/ES Plan: Yesterday market closed bullish but overnight looks slight bearish, moving within Yesterday's value. We're moving into 2818-2802 auction range, so we've these options:
A) If market remains below HVE 2808 with bearish internals, become a seller towards ONL 2800.25 and HVEs 2796-2789-2783.
B) If market starts to move above 2808 with bullish internals, buy towards GAP 2816 YVAH 2818 ONH 2819 and HVEs 2825-2842.
Tips: Keep in mind RTH timeline, 10am ET data, Initial Balance 10:30am, European close 11:30am, US Lunch close 1:30pm and Bonds close 3:00pm. Usually, you'll see market reaction after these events.
Today's Economic Calendar
10:00 Leading Indicators
10:30 EIA Natural Gas Inventory
00:15 PM Randal Quarles Speech
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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