Outlook 11/05: U.S. stock index futures are hugging the flatline as investors debate which way to turn ahead of tomorrow's U.S. congressional midterm elections. There is also uncertainty surrounding monetary policy as the Fed prepares to meet Wednesday and Thursday. Tighter U.S. monetary policy may be discussed amid strong economic data, although President Trump and others have taken aim at the Fed for its hawkish agenda.
/ESZ18 Value: YVAH 2742 YPOC 2722 YVAL 2701
/ES Plan: On Friday market closed bearish and overnight is moving sideways within 2719-2729 volume range, so we've these options:
A) If market starts to move above HVE 2729 with bullish internals, become a buyer towards YVAH-HVE 2742 and HVEs 2758-65.
B) If market starts to move below HVE 2719 with bearish internals, be a seller towards ONL 2712 LVN 2700 and GAP 2684.50
C) if market remains within 2719-2729 wait for breakout or take trades using small size for tight targets (2719 or 2729).
Today's Economic Calendar
09:45 PMI Services Index
10:00 ISM Non-Manufacturing Index
12:30 PM TD Ameritrade IMX
01:00 PM 3-Year Note Auction
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
