Outlook 09/30: U.S. stock futures were pointing lower, closing out the third-quarter and a volatile three months on Wall Street. Markets closed lower last week on reports that the White House is considering limiting U.S. investment into China. However, a Treasury official said over the weekend "the administration is not contemplating" such a move at "this time." US-China trade talks are set to resume Oct. 10.
/ESZ19 Value: YVAH 2978 YPOC 2963 YVAL 2948 GAP 2963.75
/ES Plan: Last session market closed balanced and overnight continues on that way, moving within Friday's value, so:
A) If market moves below LIS HVE 2972 with bearish internals, sell towards LVN 2963 HVE 2948 and GAP 2939.
B) If market remains above LIS 2972 with bullish internals, buy towards HVE-ONH 2980 HVE 2989 and HVE 3007.
Tips: The Jewish high holidays are here, bringing with them a well-known investment truism that suggests investors may want to reduce their stock holdings in the short term. Making investment decisions based around religious holidays may seem like an arbitrary or foolish endeavor, but such a strategy (“Sell Rosh Hashanah, Buy Yom Kippur”) does have a modest historical track record indicating some success.
Today's Economic Calendar
09:45 Chicago PMI
10:30 Dallas Fed Manufacturing Survey
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