Outlook 11/01: It looks like another balanced open for U.S. stock index futures as traders gear up for an action-packed November, with an upcoming G-20 summit, midterm elections, the latest jobs report and a Fed meeting on monetary policy. U.S. stocks rebounded strongly for a second day on Wednesday, as investors scooped up beaten-down technology and internet favorites as strong corporate results lifted sentiment. Apple is expected to report a rise in fourth-quarter revenue and profit after the bell today, helped by demand for its pricey iPhones.
/ESZ18 Value: YVAH 2729 YPOC 2719 YVAL 2710
/ES Plan: Yesterday market closed balanced and overnight still moving within 2700-2719 volume range, so we've these options:
A) If market remains below HVE 2719 with bearish internals, sell towards GAP-ONL 2705.50 LVN 2700 GAP-HVE 2684 and HVE 2652.
B) If market starts to move above 2719 with bullish internals, become a buyer towards HVEs 2729-2742 and GAPs 2746.50-2756.
Today's Economic Calendar
09:45 PMI Manufacturing Index
10:00 ISM Manufacturing Index
10:00 Construction Spending
10:30 EIA Natural Gas Inventory
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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