Outlook 10/07

Context: The U.S. employment report for September comes at a crucial time for both politics and policy, with the presidential election and Fed's next meeting just weeks away. Economists are looking for an increase of 170K jobs, with the unemployment rate remaining unchanged at 4.9%, while traders will keep a close eye on clues that may point to the timing of the next rate hike.

Plan: Globex is balanced, moving below value within 2150-2171. It seems an open auction, so first idea is to see initial reaction of jobs report and then wait for a retracement to enter on the way of the first impulse. After that, probably we'll see a return to scene of the crime.

Value References (/ESZ6): VAH 2157.25 POC 2154.25 VAL 2147.25

Economic Data (ET): 8:30 Non-farm payrolls; 10:30 Stanley Fischer; 12:45 PM Fed's Mester; 1:00 PM Baker-Hughes Rig Count; 3:00 PM Fed's George; 3:00 PM Consumer Credit; 4:00 PM Fed's Reserve Gov. Lael Brainard.

Notice: Trading process and plan are based on the Auction Theory.

Warning: Trading Futures involves substantial risk of loss and is not suitable for all investors. The past performance is not necessarily indicative of future results. All the information on this website is for educational purposes and is not intended to provide financial advice.