Outlook 11/05: U.S. stock futures were pointing to a higher open for the Tuesday session on U.S.-China trade deal optimism. "Phase One" of the pact would include Chinese purchases of American farm goods, rules to deter currency manipulation and some provisions to protect intellectual property and open up Chinese industries to U.S. firms.
/ESZ19 Value: YVAH 3081 YPOC 3078 YVAL 3075 GAP 3075.50
/ES Plan: Last session market closed leaving a bullish imbalance and overnight continues on that way, moving above yesterday's value, so:
A) If market remains above LIS YVAH 3081 with bullish internals, buy towards ONH-ATH 3085.75 and PBTs 3089-3091
B) If market moves below LIS YVAH 3081 with bearish internals, sell towards GAP 3075.50 ONL 3074 and GAP 3063.25
Tips: Overnight inventory is 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. Remember that new highs printed during ETH sessions should be revisited at NYSE regular trading hours (RTH).
Today's Economic Calendar
09:45 PMI Services Index
10:00 ISM Non-Manufacturing Index
10:00 Job Openings and Labor Turnover Survey
12:40 PM Fed's Kaplan Speech
01:00 PM 3-Year Note Auction
06:00 PM Fed's Kashkari Speech
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