Outlook 06/17: U.S. stock futures are little changed on Monday morning as traders start a holiday-shortened week, with markets closed Wednesday for the Juneteenth holiday. Investors are monitoring May retail sales data, due out on Tuesday, as well as home sales and housing starts data later in the week.
/ESM24 (JUN 2024): YVAH 5435 YPOC 5424 YVAL 5416 GAP 5436.50
/ES Plan: Last session market closed balanced, and overnight continues on that way, moving within previous value, so these're the opening and initial balance options for today:
A) If market moves above YVAH 5435 with bullish internals, buy towards YHOD-ONH 5443-5444 ATH-RTH 5454 and PBT 5465.
B) If market moves below YVAH 5435 with bearish internals, sell towards ONL 5427 YPOC 5424 YVAL 5416 and YLOD 5398.
Note: We're into rollover and usually rollover days show big divergences between Stocks vs. Futures, so setups that usually work well, may fail completely. I'll be quoting /ESU24 if volume September contract is greater than June contract. 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 as we're ahead a holiday week. Be selective with your entries. Less is more this week.
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