PPI inflation

Outlook 06/15: U.S. stock futures look balanced as investors digested the PPI and Retail Sales data. Producer prices rose at their fastest annual clip in nearly 11 years in May as inflation continued to build in the U.S. economy. At the same time, Retail Sales declined 1.3%, worse than the 0.6% estimate. The higher numbers likely will add to an ongoing debate over whether the inflation pressures over the past several months will last. Federal Reserve officials believe the current increase will prove to be transitory as supply and demand issues balance out and low readings during the pandemic lockdown wash out of the system. The Fed begins a two-day meeting Tuesday, during which it is not expected to announce any major policy changes.

/ESU21: YVAH 4237 YPOC 4229 YVAL 4225 GAP 4246

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

A) If market remains above PrevATH 4249 with bullish internals, buy towards  ATH-ON 4258.25 and PBTs 4261-4277.

B) If market moves below PrevATH 4249 with bearish internals, sell towards GAP 4246 and HVE 4239-4232-4223.

Note: Keep in mind that we're on the rollover week, pace of the roll 65%. I'm  quoting ESU21 September contract. Usually rollover days show divergences, so setups that usually work, may fail completely. 

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

Market Movers

10:00 Business Inventories

10:00 NAHB Housing Market Index

1:00 PM 20-Year Bond Auction

4:00 PM Treasury International Capital

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