Outlook 10/05: Stock futures briefly pop before turning negative after jobs report showed U.S. economy added fewer jobs than expected. The unemployment rate fell two-tenths of a percentage point to 3.7 percent, the lowest since December 1969 and one-tenth of a percentage point below expectations. Nonfarm payrolls rose just 134,000, well below estimates of 185,000 and the worst performance since September 2017 when a labor strike weighed on the numbers.
/ESZ18 Value: YVAH 2912 YPOC 2908 YVAL 2892
/ES Plan: Yesterday market closed balanced but overnight looks bimodal (LIS 2908), moving within yesterday's value. We're moving into 2918-2884 auction range, so we've these options:
A) If market remains above 2908 with bullish internals, become a buyer towards ONH 2915.50 HVE 2918 and GAP 2931.50.
B) If market starts to move below YPOC-LIS 2908 with bearish internals, try to sell towards ONL 2898.25 and HVEs 2884-2878-2867.
Tips: Historically, statistics from Jobs Report sessions show more volatility than usual; however, net change at closing bell is irrelevant.
Today's Economic Calendar
12:30 PM Fed's Kaplan speech
12:30 PM Fed's Bostic Speech
01:00 PM Baker-Hughes Rig Count
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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Glossary of terms
