New Record

Outlook 08/24: U.S. stock futures are turning lower after printing a new record overnight. Investor are eyeing the Jackson Hole symposium later this week, which is expected to be a market-moving event where central bankers could detail their plans for tapering monetary stimulus. The Federal Reserve has started discussions to pull back its $120 billion a month bond-buying program by the end of this year. The summit takes place virtually on Thursday and Fed Chairman Jerome Powell will give a speech on Friday.

/ESU21: YVAH 4486 YPOC 4480 YVAL 4465 GAP 4478.75

/ES Plan: Yesterday market closed bullish, 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 YVAH 4486 with bullish internals, buy towards ONH-ATH 4492 and PBT 4500.

B) If market remains below 4486 with bearish internals, sell towards YVAL-HVE 4465-64 and GAP 4434.

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

Market Movers

10:00 New Home Sales
10:00 Richmond Fed Mfg.
1:00 PM 2-Year Note Auction
1:00 PM Money Supply

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