Outlook 10/07: U.S. stock futures point to a balanced open. Broadly positive U.S. jobs data has quelled some fears about an economic slowdown, but nervousness over U.S.-China trade talks is setting in, as well as more weak economic data out of Europe. While Chinese Vice Premier Liu He is expected to resume discussions with U.S. counterparts later this week, there have been a number of reports that Beijing may not be as willing to compromise on a number of issues or agree to a broad trade deal pursued by President Trump.
/ESZ19 Value: YVAH 2941 YPOC 2937 YVAL 2907 GAP 2950
/ES Plan: Last session market closed bullish but overnight looks balanced, moving above Friday's value, so:
A) If market remains above LIS YVAH 2941 with bullish internals, buy towards ONH 2946.75 GAP 2950 HVE 2955 and LVN 2963.
B) If market moves below LIS YVAH 2941 with bearish internals, sell towards HVE 2937 ONL 2928 HVE 2925-18 and GAP 2911.75
Note: Fed Chairman Jerome Powell has a public appearance today, but is only making what's described as "brief remarks" at the screening of a film about Marriner Eccles, who was chairman of the Fed under President Franklin Roosevelt. Minneapolis Fed President Neel Kashkari will also speak today at a morning event in Prior Lake, Minnesota.
Today's Economic Calendar
10:20 Fed's Kashkari speech
12:30 PM TD Ameritrade IMX
01:00 PM Jerome Powell speech
03:00 PM Consumer Credit
Questions via @verniman direct message (RTH) or email (After Close).
Follow RTH updates using TweetDeck alerts
