Monday rebound

Outlook 04/15: U.S. stock futures rise on Monday, rebounding from last week’s sell-off following strong Goldman Sachs earnings, retail data and hopes that the conflict in the Middle East won’t further escalate. Retail sales increased 0.7% for the month of March, providing the latest indication that consumption remains strong in spite of inflationary pressures. That pace was higher than the 0.3% consensus forecast of economists. Monday’s premarket action also comes of the heels of a tough week, as lingering inflation concerns and a poor start to the new corporate earnings season weighed on traders.

/ESM24 (JUN 2024): YVAH 5200 YPOC 5170 YVAL 5150 GAP 5178.75

/ES Plan: Last session market closed bearish (PBT 5087), but overnight looks more bullish, moving above yesterday value, so these're the opening and initial balance options for today:

A) If market remains above YVAH 5200 with bullish internals, buy towards GAP 5243 YHOD 5249 HVE 5257 and GAP 5267.

B) If market moves below YVAH 5200 with bearish internals, sell towards GAP 5179 YPOC 5170 and YVAL-YLOD 5150.

Note: It's Monday and Mondays are usually the quietest days of the week. Many traders want to take their time analyzing the market, and usually, there are few economic releases. Market opens above value and if it begins to trade within value, VAR comes into play.

Market Movers

10:00 Business Inventories

10:00 Housing Market Index

8:00 PM Fed's Daly Speech 

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