Dovish tone

Outlook 06/23: U.S. stock futures rise slightly as market’s comeback rally set to continue. The latest comments from Fed Chair Jerome Powell are continuing to reassure markets after the major averages closed higher on Tuesday and the Nasdaq scored a fresh record.  Fed Chair said that fear of inflation alone would not be enough to prompt interest rate increases. Inflation is being caused by "extremely strong demand for labor, goods and services," compounded by a "supply side caught a little bit flat-footed," though it's "very, very unlikely" the U.S. will see 1970s-style inflation.

/ESU21: YVAH 4246 YPOC 4228 YVAL 4217 GAP 4236.25

/ES Plan: Yesterday market closed balanced, and overnight continues on that way, moving within yesterday's value so these are the initial balance options for today:

A) If market remains above HVE 4233 with bullish internals, buy towards  ONH 4248 HVE 4249 and ATH 4258. 

B) If market moves below HVE 4233 with bearish internals, sell towards ONL 4230 HVE 4213 and HVE 4204.

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

Market Movers

9:45 PMI Composite Flash

10:00 New Home Sales

10:30 EIA Petroleum Inventories

11:00 Fed's Bostic Speech

11:30 2-Year FRN Auction

1:00 PM 5-Year Note Auction

4:30 PM Fed's Rosengren Speech

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