Outlook 01/02: U.S. stock futures trade lower Tuesday, the first trading day of the year, as interest rates rebounded slightly and investors took some money off the table following a surprisingly strong 2023 that saw the S&P 500 rally 24%. The stock market finished 2023 with a bang, as the SP500 climbed for nine weeks in a row to end the year, notching its best weekly win streak since 2004. Risk assets enjoyed a big relief rally as the economy remained resilient and inflation cooled, while the Federal Reserve signaled an end to rate hikes and forecasted rate cuts later this year.
/ESH24 (MAR 2024): YVAH 4823 YPOC 4815 YVAL 4803 GAP 4813.50
/ES Plan: Last session of 2023 market closed balanced, but first overnight of 2024 looks bearish, moving below previous value/range, so these're the opening and initial balance options for today:
