Outlook 07/18: Stock futures are quiet on Friday as investors look toward to end of a week defined by rotation. Despite Thursday’s broad sell-off, a market rotation still appears to be theme of the week. A shift away from megacap artificial intelligence beneficiaries can explain the Nasdaq’s underperformance this week, as well as why the information technology and communication services sectors have led the broad SP500 lower. Businesses worldwide were grappling with an ongoing massive IT outage Friday morning as cybersecurity giant CrowdStrike experienced an issue with its latest tech update. Officials at both the New York Stock Exchange and the Nasdaq said they are up and running Friday, despite the CrowdStrike problems that have hit everything from airlines to banks to a slew of other businesses around the world.
/ESU24 (SEP2024): YVAH 5631 YPOC 5595 YVAL 5570 GAP 5595
/ES Plan: Yesterday market closed bearish (PBT 5526), but overnight looks slight bullish (PBT 5638), moving within previous value, so these're the opening and initial balance options for today:
