Outlook 07/18: Stock futures advance on Thursday morning, as technology shares looked to rebound after the Nasdaq’s worst session since 2022, closing below 18,000 for the first time since July 1. Market has been dumping shares of this year’s artificial intelligence plays as the growing likelihood of a September rate cut bolstered optimism in the broader market. That’s particularly helped small-caps, which are seen as beneficiaries a lower borrowing costs. Investors have been hoping for a broadening market amid concerns that the tech-driven rally is running out of steam. However, some expect the change in leadership may not be enough to protect stocks from challenges ahead, including the possibility of an economic slowdown.
/ESU24 (SEP2024): YVAH 5658 YPOC 5641 YVAL 5637 GAP 5638.75
/ES Plan: Yesterday market closed bearish (PBT 5566), but overnight looks slight bullish, moving within previous value, so these're the opening and initial balance options for today:
