Week Ahead

Outlook: Most global stock markets rose Monday following a strong week despite jitters about the status of Spain's Catalonia region and tensions over North Korea. Markets finished mixed but little-changed on Friday, while the September jobs report disappointed. In the week ahead, markets will have a fairly muted economic schedule to contend with while third quarter earnings season will get underway. The economic highlights should come on Friday, when we will get the September reports on retail sales as well as inflation, two key readings for the Federal Reserve. Following Friday’s jobs report, market data indicated a 75% chance the Fed will move to raise rates at its December meeting.

/ES Value: YVAH 2547 YPOC 2545.25 YVAL 2543

/ES Plan: On Friday, RTH profile closed balanced but ETH showed slight bearish. Overnight inventory is bullish, so we've 2 options:

A) If market remains above YVAH 2547 with volume rising, try to be a buyer leaning on 2548.75-2547 towards PBTs 2552 and 2562.

B) If market moves below YVAH 2547 with volume falling, try to be a seller leaning on 2547-2546.25 towards LVNs 2541.25-2538.50

Link for Updates (Check it during RTH)

Tips: On the bigger picture, composite profile shows an excess high so buyers need to add volume and find value (acceptance) on this new auction range (2510-2550). That means more sweeping excess. Otherwise, sellers could start liquidation break below edge (2510).

Today's Economic Calendar

12:30 PM TD Ameritrade IMX

Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.

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