Outlook 10/23: U.S. stocks futures turned lower after Caterpillar sank on disappointing earnings. The SP500 and Nasdaq have now alternated between gains and losses for eight straight days, although all are higher than where they were before that streak began. The SP500 is still just 1% away from its July record close despite sliding Tuesday. No government economic reports are on today's calendar.
/ESZ19 Value: YVAH 3014 YPOC 3011 YVAL 3003 GAP 2994
/ES Plan: Yesterday market closed bearish but overnight looks more balanced, moving below Yesterday's value, so:
A) If market remains below LIS HVE 2995 with bearish internals, sell towards ONL 2982 HVE 2972 and GAP 2966.
B) If market moves above LIS HVE 2995 with bullish internals, buy towards YVAL 3003 and HVE 3007-3012-3018.
Tips: It's Wednesday, the same kind of market movement see on Tuesday and bigger price moves on the charts as a result. This is the second best trading day of the week.
Today's Economic Calendar
10:30 EIA Petroleum Inventories
01:00 PM 5-Year Note Auction
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