Next milestone

 Outlook 05/20: U.S. stock futures trade flat on Monday after printing new record highs last week. The SP500 is more than 12% in 2024. Markets have shifted from ‘fear of May’ to buy in May; and as each week has passed, this has been the case. This market rally should continue at least in the short term towards SP 6000 as next milestone. The minutes from the Federal Reserve’s April 30 to May 1 meeting are due on Wednesday. Investors will also watch out for the latest readings on several pieces of economic data including existing home sales, jobless claims and durable goods orders.

/ESM24 (JUN 2024): YVAH 5324 YPOC 5320 YVAL 5316 GAP 5325.75

/ES Plan: Last session market closed balanced, and overnight continues on that way, moving above previous value, so these're the opening and initial balance options for today:

A) If market moves above YVAH 5324 with bullish internals, buy towards HVE-ONH 5336-37 ATH-RTH 5349 and PBT 5385.

B) If market moves below YVAH 5324 with bearish internals, sell towards YVAL 5316 YLOD 5306 HVE 5288 and CPI SoC-GAP 5270.

Note: Market opens below value and if it begins to trade within value, VAR setup comes in play. It's Monday, 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 Movers

10:30 Fed's Jefferson Speech 

11:30 3 Month Bill Auction

11:30 6 Month Bill Auction

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