China again

Outlook 09/24: U.S. stock futures were lower on Friday to wrap up a volatile week. A crackdown on bitcoin by China was hurting market sentiment overnight, especially with technology shares. This week, the market staged a two-day relief rally beginning on Wednesday after the Federal Reserve signaled no imminent removal of its ultra-easy monetary policy. Investors also bet that the debt crisis of China’s real estate giant Evergrande wouldn’t trigger a ripple effect across global markets.

/ESZ21: YVAH 4455 YPOC 4443 YVAL 4427 GAP 4439.75

/ES Plan: Yesterday market closed bullish (PBT 4500), but overnight looks more bearish, moving below Yesterday's value, so these're the opening and initial balance options for today:

A) If market moves above HVE 4423 with bullish internals, buy towards GAP 4439.75 ONH 4451.50 and YVAH 4455.

B) If market remains below HVE 4423 with bearish internals, sell towards HVEs 4406-4385-4363 and GAP 4334.50.

Note: Market opens below previous value area and it's a clearly bearish signal. But, if market begins to trade within value with volume increasing, 'Value Area Rule (VAR)' comes into play. 

Market Movers

10:00 New Home Sales

10:00 Jerome Powell Speech

10:00 Fed’s Bowman Speech

10:00 Fed’s Clarida Speech

10:00 Fed’s George Speech

12:00 PM Fed’s Bostic Speech

1:00 PM Baker-Hughes Rig Count

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