Outlook 08/20: Stock futures are flat Tuesday morning after the SP500 and the Nasdaq notched their longest winning streaks of 2024. The major averages have bounced back amid a dramatic fall in market volatility from the start of the month. The VIX is now around 15 after topping 65 on Aug. 5, the day the SP500 posted its worst session since 2022. Strong retail sales data and a soft inflation report issued last week have helped soothe investors fears on the economy. This week, investors are readying themselves for the Federal Reserve’s annual Jackson Hole Economic Symposium, where Chair Jerome Powell is scheduled to give remarks Friday. Before then, traders will parse minutes from the central bank’s July policy meeting due Wednesday.
ESU24 (SEP2024): YVAH 5612 YPOC 5588 YVAL 5572 GAP 5625.25
/ES Plan: Yesterday market closed bullish (PBT 5609), and overnight continues on that way, moving above previous value, so these're the opening and initial balance options for today:
