Outlook 06/21: U.S. stock futures are slightly lower Friday after the broad market benchmark printed a new record high. While some signs of an overextended market are appearing, it isn’t clear yet whether the market has reached its limits on the artificial intelligence-fueled rally. which can’t continue its meteoric rise. Nvidia is still up more than 160% year to date, and it briefly beat Microsoft as the most valuable public company on Tuesday. Investors expect a rebalancing of the field a little bit, because the valuations of these tech companies have just gotten so far afield from the average that we probably would see some broadening. Today's market could be more volatile than normal due to triple witching, the expiration of stock options, stock index options and stock index futures options.
/ESU24 (SEP 2024): YVAH 5564 YPOC 5543 YVAL 5526 GAP 5541
/ES Plan: Yesterday market closed bearish (PBT 5500), and overnight continues on that way (PBT 5520), moving within previous value, so these're the opening and initial balance options for today:
