IPO debut

Outlook 09/15: U.S. stock futures ticked up on Friday after markets rallied on the back of the latest IPO debut. Arm soared nearly 25% during its market debut Thursday. The stock opened above its $51 per share IPO price and closed at $63.59, then climbed another 6.3% in premarket trading Friday. In economic news, the headline producer price index rose 0.7% in August, coming in above economists’ expectations for 0.4%. However, the core PPI increased by 0.2%, in line with estimates. Core inflation still seems to be trending in the right direction, and historically the Fed has looked at core inflation more rigorously.

/ESZ23 (Dec 2023): YVAH 4558 YPOC 4554 YVAL 4537 GAP 4559.25

/ES Plan: Yesterday market closed bullish (PBT 4590), but overnight looks more bearish, moving within previous value, so these're the opening and initial balance options for today:

A) If market moves above YVAL 4537 with bullish internals, buy towards HVE 4550 ONH 4566 HVE 4572 and PBT 4590.

B) If market moves below YVAL 4537 with bearish internals, sell towards HVE 4522 YLOD 4519 and  HVE 4511-4500.

REMINDER: Expiration Week, options and futures on both indexes and stocks expire simultaneously, and generally produces heavy volumes that can boost liquidity.

Market Movers

10:00 Consumer Sentiment

1:00 PM Baker Hughes Rig Count 

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