Losing week

Outlook 08/20: U.S. stock futures point ot a balanced open as the markets close out a losing week driven by fears of the Federal Reserve pulling back its stimulus. Minutes from the Fed’s July meeting released this week showed the central bank is willing to start reducing its monthly asset purchases this year. Investors sold equities and commodities this week and bought bonds on fears the move by the Fed may upend a global economy already under stress by the delta variant.

/ESU21: YVAH 4411 YPOC 4393 YVAL 4383 GAP 4404.25

/ES Plan: Yesterday market closed bullish (PBT 4436), but overnight looks more balanced, moving within Yesterday's value, so these're the opening and initial balance options for today:

A) If market moves above HVE 4411 with bullish internals, buy towards HVEs 4425-4434 and PBT 4436.

B) If market remains below 4411 with bearish internals, sell towards HVE 4386 ONL 4371.75 and HVE 4364.

Note: Market looks balanced, so don't be 'too anxious' to trade early. Bad trades occur are when you try to force things to happen, don’t force it. 

Market Movers

11:00 Fed's Kaplan Speech

1:00 PM Baker-Hughes Rig Count

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