Tax Plan Update

Stock markets closed with narrow gains in a session that kept the main indexes in a small price band, after Labor data said that initial claims for state unemployment benefits increased 12k to a seasonally adjusted 272k for the week ended Sept 23. Markets also assessed Trump's tax plan, which called for tax cuts, but prompted criticism that it favored business to the rich and could add trillions of dollars to the deficit.

/ES Update: Market closed bullish and value shifted higher. After balanced, usually next move is back to value. Otherwise if market breaks highs, could be an excess or the start for new range higher.

Tips: We can use cash volume to anticipate price moves, as we see on the RTH chart. First, volume broke rising trendline 6 minutes earlier than price, then did the same with the falling trendline.

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