Outlook 09/04: U.S. stock futures turn positive after the release of U.S. employment data for August. Nonfarm payrolls increased by 1.37 million in August and the unemployment rate tumbled to 8.4% as the U.S. economy continued to climb its way out of the pandemic downturn. The unemployment rate was by far the lowest since the coronavirus shutdown in March, according to Labor Department.
/ESU20 Value: YVAH 3517 YPOC 3456 YVAL 3426 GAP 3459.50
/ES Plan: Yesterday market closed bearish (PBT 3328), but overnight looks more balanced, moving within yesterday's value, so these are the initial balance options for today's opening:
A) If market remains above LIS YPOC 3456 with bullish internals, buy towards ONH 3484.25 YVAH 3517 and GAP 3579.
B) If market moves below LIS YPOC 3456 with bearish internals, sell towards ONL 3426.50 HVE 3424 and GAPs 3392-29.
Note: Overnight looks balanced, moving within yesterday's value 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 value.
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