Jobs Report

Outlook: The U.S. economy added 261,000 jobs in October while the unemployment rate fell again to 4.1%, according to the latest figures from the Bureau of Labor Statistics. This is the lowest unemployment rate since December 2000. U.S. markets were looking for a big bounce back for the labor market in October after the Hurricanes Harvey-Irma.

/ES Value: YVAH 2577 YPOC 2572 YVAL 2569

/ES Plan: Yesterday market closed leaving bullish imbalance (PBT 2582). Overnight inventory after Jobs data is balanced, moving within yesterday's value, so as usual we've 2 options:

A) If market remains above LVN 2576 with volume rising, try to be a buyer leaning on 2576-2577 towards PBT 2582 and ATH 2585. Failure to take out ONH early is signal of weakness.

B) If market moves below LVN 2576 with volume falling, try to be a seller leaning on 2576-2577 towards YPOC 2572 and YVAL 2569. Failure to breakdown ONL early is signal of a strength.

Today's Economic Calendar

09:45 AM PMI Services Index
10:00 AM Factory Orders
10:00 AM ISM Non-Manufacturing Index
01:00 PM Baker-Hughes Rig Count

Link for Updates (Check it during RTH session)

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

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