Outlook 03/08: U.S. stocks futures moved lower after Labor Department released February’s jobs report. The U.S. economy have added 20,000 jobs during February, and the unemployment rate ticked lower to 3.8%. It was the worst month for job creation since September 2017.
/ESH19 Value: YVAH 2756 YPOC 2749 YVAL 2742 GAP 2750
/ES Plan: Yesterday market closed bearish and pre-opening market moved lower after Jobs report, so we've these options:
A) If market remains below HVE 2736 with bearish internals, sell towards HVEs 2728-2719-2712 GAP 2708.50 and HVE 2704.
B) If market starts to move above 2736 with bullish internals, buy towards HVE 2742 GAP 2750 ONH 2756.75 and HVE 2758.
Note: Pace of the Roll now is 48% so, after the bell, I'll start quoting /ESM19. Usually rollover days show big divergences between Stocks and Futures, so setups that usually work well, may fail completely.
Today's Economic Calendar
10:00 Fed's Daly Speech
01:00 PM Baker-Hughes Rig Count
10:00 PM Jerome Powell speech
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
Questions via @verniman direct message (RTH) or email (After Close).
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