New Ticket

Outlook 07/22: Stock futures opened mildly higher after Biden formally passed the torch to Harris, with no significant policy uncertainty seen as extending from the latest announcement. She is a staunch defender of Biden's economic approach, such as upgrading infrastructure, subsidies for green projects,  reshoring critical industries, and is also largely expected to stick to his foreign policy playbook. Harris' next interaction with the press will come today at 11:30AM ET. Earnings and central bank policy will also be top of mind. Traders have been pricing in nearly a 93% likelihood of the Federal Reserve cutting interest rates during its September meeting. 

/ESU24 (SEP2024): YVAH 5579 YPOC 5554 YVAL 5544 GAP 5548.25

/ES Plan: Last session market closed bearish (PBT 5500), but overnight looks slight bullish, moving above previous value, so these're the opening and initial balance options for today:

A) If market moves above HVE 5589 with bullish internals, buy towards YHOD-HVE 5608 and HVE 5627.

B) If market moves below HVE 5589 with bearish internals, sell towards YVAH 5579 GAP 5548 and YVAL 5544.

Note: Market opens above value and if it begins to trade within value, VAR comes into 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

11:30 Democratic Nominee Harris Speaks

11:30 6-Month Bill High Yield

11:30 3-Month Bill High Yield

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