Outlook 11/14: U.S. stock futures pointed to a higher open on Wednesday after data released showed inflation slowed on a year-over-year basis. The consumer price index rose 0.3 percent in October (in line with expectations) boosted by higher gasoline prices, used cars and housing. On an annualized basis, however, it slowed down by 0.1 percent to 2.5 percent. The so-called core CPI, which strips out food and energy costs, missed estimates on an annualized basis.
/ESZ18 Value: YVAH 2745 YPOC 2737 YVAL 2719 GAP 2727.50
/ES Plan: Yesterday market closed balanced. Overnight looks more bullish, moving within Yesterday's value and 2745-2729 range, so today's options:
A) If market remains above YPOC 2737 with bullish internals, become a buyer towards ONH 2744.50 HVE 2745-2758-2765 and GAP 2779.
B) If market starts to move below 2737 with bearish internals, be a seller towards HVE 2729 GAP 2727.50 HVE 2719 and ONL 2711.
Today's Economic Calendar
9:00 Fed's Reserve Vice Chairman Quarles Testimony
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
