Outlook 02/04: U.S. stock futures rose slightly early Thursday after three-day winning streak. A better-than-expected jobless claims report helped boost sentiment. First-time claims for unemployment insurance totaled 779,000 for the week ended Jan. 30, below the 830,000 estimated.
/ESH21 Value: YVAH 3834 YPOC 3831 YVAL 3822 GAP 3831.75
/ES Plan: Yesterday market closed bullish (PBT 3854), but overnight looks more balanced, moving within previous value, so these are the initial balance options for today:
A) If market remains above LIS HVE 3822 with bullish internals, buy towards ONH 3835.50 GAP 3851 and PBT 3854.
B) If market moves below LIS HVE 3822 with bearish internals, sell towards ONL 3811.25 GAP 3747 and HVE 3740.
Note: Overnight inventory is balanced. Trading from responsive versus initiative would be preferred, so don't be 'too anxious'. If we're within value we want to have some patience until market shows a clear bias.
Market Movers
10:00 Factory Orders
10:30 EIA Natural Gas Inventory
1:00 PM Fed's Kaplan Speech
2:00 PM Fed's Daly Speech
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
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