Winner August

Outlook 08/31: U.S. stock futures have printed a new record high and then fell slightly. The calls of a stock market melt-up are getting louder as the major averages posted another round of solid gains on Monday. The SP 500 has rallied more than 20% this year after scoring its 53rd record close in Monday's session and is set to close out its seventh consecutive winning month later today. Whether Wall Street's gains can continue may depend on the government's latest monthly employment report, which is set for release on Friday.  

/ESU21: YVAH 4535 YPOC 4531 YVAL 4519 GAP 4527

/ES Plan: Yesterday market closed bullish (PBT 4550), but overnight looks bearish after printing a new record high, so these're the opening and initial balance options for today:

A) If market moves above LIS 4524 with bullish internals, buy towards YVAH 4535 ONH 4542.25 and PBT 4550.

B) If market remains below LIS 4524 with bearish internals, sell towards ONL 4516 HVE 4511 and GAP 4504.

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

Market Movers

9:45 Chicago PMI

10:00 Consumer Confidence

3:00 PM Farm Prices

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