Outlook 12/06: U.S. stock index futures jumped on Friday on the back of U.S. jobs growth that easily topped expectations. The jobs market turned in a stellar performance in November, with nonfarm payrolls surging by 266,000 and the unemployment rate falling to 3.5%, according to Labor Department numbers released Friday. Those totals easily beat the Wall Street consensus. Economists had been looking for solid job growth of 187,000 and saw the unemployment rate holding steady from October’s 3.6%. The jobs growth was the best since January.
/ESZ19 Value: YVAH 3118 YPOC 3110 YVAL 3108 GAP 3117.25
/ES Plan: Yesterday market closed balanced but overnight looks strongly bullish after NFP numbers, moving above yesterday's range, so:
A) If market remains above LIS HVE 3133 with bullish internals, buy towards PBT 3147 ATH 3158 and PBT 3162.
B) If market moves below LIS 3133 with bearish internals, sell towards YHOD 3125 GAP-ONL 3117 and HVE 3097.
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. Remember that new highs printed during ETH sessions should be revisited at NYSE regular trading hours (RTH).
Today's Economic Calendar
10:00 Consumer Sentiment
10:00 Wholesale Trade
01:00 PM Baker-Hughes Rig Count
03:00 PM Consumer Credit
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