Short week ahead

Outlook 01/16: U.S. stock futures inched lower Tuesday as rates ticked higher and investors pored through the latest batch of fourth quarter earnings. Market also awaited more data that can give better glimpse into the state of the American consumer. Several major banks released their quarterly earnings Tuesday morning. Goldman Sachs reported better-than-expected profit and revenue, leading shares to gain 1% during premarket trading. Shares of Morgan Stanley added nearly 2% after the bank posted a revenue beat in the fourth quarter. Investors are also looking ahead to December retail sales data out Wednesday, which could fuel recessionary fears and concerns about economic growth if U.S. consumer spending sees a cool down.

/ESH24 (MAR 2024): YVAH 4820 YPOC 4814 YVAL 4806 GAP 4813.50

/ES Plan: Last session market closed balanced, but overnight looks more bearish, moving below previous value, so these're the opening and initial balance options for today:

A) If market moves above HVE 4792 with bullish internals, buy towards GAP 4813 HVE 4830 ATH 4842 and PBT 4850.

B) If market moves below HVE 4792 with bearish internals, sell towards ONL 4785 HVE 4745 GAP 4737 and HVE 4702.

Note: Market opens inside value so let the market lead. You don’t have to be the first. Bad trades occur when you try to force things to happen. It's Friday and traders who have made losses that week will likely take large risks to try and end the week with a profit. Try to be calm and focus on the market rather than thinking about your account.

Market Movers

11:00 Fed's Waller Speech 

Follow Twitter updates using TweetDeck old version.

Follow news and listen to order flow at FinancialJuice.

Questions via private twitter direct message (RTH)