Outlook 02/07: U.S. stock index futures rose on Friday after Nonfarm payrolls surged 225,000 for the month, well above Wall Street forecast. The unemployment rate ticked higher to 3.6%, but for the right reason as the labor force participation rate increased 0.2% to 63.4%, matching its highest level since June 2013. Economists were looking for payroll growth of 158,000 and the jobless rate to stay at 3.5%, its lowest in more than 50 years.
/ESH20 Value: YVAH 3346 YPOC 3342 YVAL 3338 GAP 3345.25
/ES Plan: Yesterday market closed balanced but overnight looks more bearish, moving below yesterday's value, so these're the options for today's regular trading session:
A) If market remains below LIS YVAL HVE 3338 with bearish internal, sell towards ONL 3327.50 VAL 3313 and HVE 3298.
B) If market moves above LIS YVAL HVE 3338 with bullish internal, buy towards GAP 3345.25 ONH 3350 and ATH 3357.75.
Note: Remember that new record high (ATH) has been printed overnight, so it's still pending to be revisited at NYSE regular trading hours.
Today's Economic Calendar
10:00 Wholesale Trade
01:00 PM Baker-Hughes Rig Count
03:00 PM Consumer Credit
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