Outlook 09/09: U.S. stock futures starting the week up 0.3%. U.S. jobs growth slowed more than expected in August, while Jerome Powell reiterated that the Fed will continue to "act as appropriate" to sustain the U.S. economic expansion. Data overseas also saw China's exports unexpectedly contract and the ECB is expected to unleash a barrage of stimulus measures on Thursday to shore up economic growth.
/ESU19 Value: YVAH 2984 YPOC 2981 YVAL 2978 GAP 2980.75
/ES Plan: On last session market closed leaving a bullish imbalance (PBT 2991) and overnight continues on that way, moving above Friday's range, so these're the options for today:
A) If market remains above LIS YHOD HVE 2988 with bullish internals, buy towards PBT-ONH 2992 and HVE Tariffs SoC 3006.
B) If market moves below LIS 2988 with bearish internals, sell towards ONL-GAP 2980 GAP-HVE 2972 HVE 2948 and GAP 2939.
Tips: Overnight inventory is 100% bullish. The expected action is a counter-auction relative to overnight inventory; failure to see the counter-auction would be an indication of a potential trend day. Keep in mind that we're on the rollover week, so volume from September contract starts to dries up towards December contract.
Today's Economic Calendar
12:30 PM TD Ameritrade IMX
03:00 PM Consumer Credit
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