First Debate

Outlook 09/29: U.S. equity futures traded near breakeven early Tuesday ahead of the first U.S. presidential debate. Political news is poised to potentially be a major driver of market news this week, with the first debate between President Donald Trump and Democratic nominee Joe Biden set for Tuesday night. Some Wall Street analysts believe the first debate of this cycle could be more consequential for the markets than most debates, with a clear victory by one candidate possibly creating significant market moves. 

/ESZ20 Value: YVAH 3347 YPOC 3343 YVAL 3331 GAP 3346.50

/ES Plan: Yesterday market closed bullish (PBT 3398), but overnight looks more bearish, moving within yesterday's value, so these are the initial balance options for today's opening:

A) If market remains below LIS YVAH 3347 with bearish internals, sell towards ONL-HVE 3332-3331 HVEs 3318-3302 and GAP 3288.

B) If market moves above LIS YVAH 3347 with bullish internals, buy towards HVE 3359 ONH 3363 GAP 3378 and HVE-PBT 3398.

Note: Overnight looks bearish but still moving within yesterday's and overnight's value, so don't be 'too anxious' to trade early. If we're within a value range we want to have some patience until market breaks.

Market Movers

10:00 Consumer Confidence

11:40 Fed's Clarida Speech

1:00 PM Fed’s Quarles Speech

1:00 PM Fed's Williams Speech

3:00 PM Fed’s Quarles Speech

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