Outlook 11/09: U.S. equities look poised to slip again at the open, continuing a market retreat after the Fed appeared to remain on track to raise to its key rate next month. Some traders hoped that the stocks sharp selloff during the "Red October" might have encouraged the Fed to take a more dovish approach, but statement confirmed expectations of "further gradual increases" in the prime lending rate.
/ESZ18 Value: YVAH 2813 YPOC 2809 YVAL 2803
/ES Plan: Yesterday market closed balanced but Overnight looks bearish, moving below yesterday's value, within 2796-2783, so today's options:
A) If market remains below HVE 2796 with bearish internals, become a seller towards ONL 2789.50 HVEs 2783-2765 and GAP 2759.
B) If market starts to move above 2796 with bullish internals, buy towards YVAL 2803 GAP 2809 ONH 2811.25 and HVE 2818-2825.
Today's Economic Calendar
10:00 Consumer Sentiment
10:00 Wholesale Trade
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
