Retail Sales

Outlook 02/17: U.S. stock futures point to a balanced open after consumers flocked to spend their stimulus checks in January, sending retail sales for the month up 5.3% in a blockbuster start to 2021. Economists surveyed by Dow Jones were expecting a rise of just 1.2%. The jump in consumer spending came at a time when expectations for growth in the early part of 2021 were muted as the economy continued to shake off the pandemic-induced slowdown.

/ESH21 Value: YVAH 3941 YPOC 3931 YVAL 3925 GAP 3925.50

/ES Plan: Last session market closed bearish (PBT 3903), and overnight continues on that way, moving below yesterday's value, so these are the initial balance options for today:

A) If market moves above LIS HVE 3918 with bullish internals, buy towards YVAL-GAP 3925 HVE 3937 YVAH 3941 and ATH 3959.25.

B) If market moves below LIS HVE 3918 with bearish internals, sell towards ONL 3910.75 PBT 3903 HVEs 3890-3877 and GAP 3867.

Note: Keep in mind that new record high has been printed overnight, so it's still pending to be revisited at regular trading hours. 

Market Movers

10:00 Fed's Rosengren Speech
10:00 Business Inventories
10:00 NAHB Housing Market Index
1:00 PM 20-Year Bond Auction
2:00 PM FOMC Minutes

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