Outlook 03/25: U.S. stock futures slightly lower Monday morning to start March’s last and shortened week. This week, investors will gain further insight about the path of inflation from the February personal consumption expenditures price index, the Fed’s preferred inflation gauge, released Friday morning. The market’s reaction will be determined on the following Monday given the Good Friday holiday.
/ESM24 (JUN 2024): YVAH 5302 YPOC 5297 YVAL 5293 GAP 5289.75
/ES Plan: Last session market closed bearish, and overnight continues on that way, moving below value/range, so these're the opening and initial balance options for today:
A) If market moves above YLOD 5288 with bullish internals, buy towards YVAL 5293 YVAH 5302 GAP 5307 and YHOD 5312.
B) If market remains below YLOD 5288 with bearish internals, sell towards HVE 5253 FOMC Soc 5240 HVE 5193 and GAP 5184.
Note: Market opens below value and it begins to trade within value, Value Area Rule (VAR) comes into play. It's Monday and usually the quietest day of the week. Many traders want to take their time analyzing the market, and usually, there are few economic releases.
Market Movers
10:00 New Home Sales
10:30 Fed's Cook Speech
10:30 Dallas Fed Survey
1:00 PM 2-Year Note Auction
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