Outlook 01/04: Stock futures hold gains after the release of a monster jobs report. The U.S. economy added 312,000 jobs last month, much more than the expected 176,000. The data propelled Treasury yields to their session highs, with the 10-year yield trading around 2.62 percent. Markets will also be keeping an eye on a speech by Federal Reserve Chair Jerome Powell at 10:15 a.m. ET.
/ESH19 Value: YVAH 2475 YPOC 2455 YVAL 2449 GAP 2448.25
/ES Plan: Yesterday market closed bearish (PBT 2415) but overnight looks more bullish moving above previous value, so we've these options:
A) If market remains above YVAH 2475 with bullish internals, be a buyer towards ONH 2486.75 HVEs 2491-2500-2508 and GAP 2511.
B) If market starts to move below YVAH 2475 with bearish internals, sell towards LVN 2456 GAP 2448.25 HVE 2444 and ONL 2438.50.
Today's Economic Calendar
09:45 PMI Services Index
10:15 Jerome Powell Speech
10:15 Fed's Bostic Speech
10:30 EIA Natural Gas Inventory
11:00 EIA Petroleum Inventories
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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