Retail Sales

Outlook 09/16: U.S. stock futures point to lower open after jobless claims increased to 332,000 for the week ended Sept. 11, greater than 320,000 estimated. Retail sales post a surprise gain in August despite fears that escalating Covid cases and supply chain issues would hold back consumers. Economists had expected that consumers cut back their activity as the delta variant continued its tear through the U.S. Persistent supply chain bottlenecks also were expected to hold back spending as in-demand goods were hard to find.

/ESZ21: YVAH 4465 YPOC 4442 YVAL 4427 GAP 4473.25

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

A) If market remains above YVAH-HVE 4465-4464 with bullish internals, buy towards GAP 4473.25 ONH 4478.50 and HVEs 4483-4489.

B) If market moves below YVAH-HVE 4465-4464 with bearish internals, sell towards ONL 4456 and HVEs 4446-4433 and YVAL 4427.

Note: Keep in mind that we're on the rollover week. Remember that record high has been printed overnight, so it's still pending to be revisited at regular trading hours.

Market Movers

10:00 Business Inventories

10:30 EIA Natural Gas Inventory

4:00 PM Treasury International Capital

4:30 PM Fed Balance Sheet

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