Outlook 10/02: U.S. stock futures point to a lower open that would extend stock losses following the worst day for the SP500 since Aug 23. Yesterday's losses for Dow/SP500 erased their entire third quarter gains, although both still sit only 3% below their July all-time highs.
/ESZ19 Value: YVAH 2970 YPOC 2944 YVAL 2938 GAP 2938.50
/ES Plan: Yesterday market closed bearish (PBT 2894) and overnight continues on that way, moving belowe yesterday's range, so:
A) If market remains below LIS HVE 2925 with bearish internals, sell towards ONL 2916.75 HVE 2907 and PBT-HVE 2894.
B) If market moves above LIS HVE 2925 with bullish internals, buy towards GAP 2938.50 ONH 2949 HVE 2955 and LVN 2963.
Quotes: "As a trader, you have to decide what is more important, being right or making money, because the two are not always compatible or consistent with one another." Mark Douglas
Today's Economic Calendar
10:30 EIA Petroleum Inventories
10:50 Fed's Williams Speech
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