Outlook 09/22: U.S. stock futures rise slightly Friday, but the market is still poised to end the week with steep losses. The SP500 is down 2.7% this week, on track for their worst weekly performance since March. It would also be their third negative week in a row. Bond yields surged after the central bank forecast one more rate hike for 2023. The benchmark 10-year Treasury yield popped 15 basis point to hit a high of 4.498%, its highest level since 2007. Risk-off resumed as markets grappled with the ‘higher for longer’ signal. The weak close opens the door to more losses into month-end, especially with a potential government shutdown ahead during a period of the year that is seasonally the most volatile for risk assets.
/ESZ23 (Dec 2023): YVAH 4419 YPOC 4404 YVAL 4385 GAP 4370
/ES Plan: Yesterday market closed bearish, but overnight looks slight bullish, moving within previous value, so these're the opening and initial balance options for today:
