FED Speakers

Outlook 05/10: U.S. stock futures rise as SP500 closing above 5,200 for the first time since early April. Investors have been more optimistic lately after the Federal Reserve indicated the next move is unlikely to be a hike, pointing to a cap on interest rates that could be bullish for equities. A strong earnings season, as well as some softer labor data, have also bolstered confidence in the stock outlook. A slate of central bank officials are scheduled to speak Friday, including Fed presidents Lorie Logan of Dallas, Kashkari of Minneapolis and Goolsbee of Chicago. Fed Governor Michelle Bowman will also make an appearance.

/ESM24 (JUN 2024): YVAH 5240 YPOC 5228 YVAL 5216 GAP 5242.50

/ES Plan: Yesterday market closed bullish (PBT 5262), and overnight continues on that way, moving within previous value/range, so these're the opening and initial balance options for today:

A) If market moves above HVE 5256  with bullish internals, buy towards HVE-PBT 5262 HVEs 5287-5322 and ATH-ETH 5333.

B) If market moves below HVE 5256 with bearish internals, sell towards GAP 5242 YVAH-ONL 5240 YPOC 5228 and YVAL 5216.

Note: Overnight inventory is 100% bullish. The expected action is a counter-auction; failure to see the counter-auction would be an indication of potential trend day. If market opens above value and if it begins to trade within value, VAR comes into play.

Market Movers

10:00 Consumer Sentiment
10:00 Fed's Logan Speech
10:00 Fed's Kashkari Speech
12:45 PM Fed's Goolsbee Speech
1:00 PM Baker Hughes Rig Count
1:30 PM Fed's Barr Speech
2:00 PM Treasury Statement 

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