Inflation data

Outlook 09/27: Stock futures are little changed on Friday as stocks headed for a winning week. Traders also digested new data that pointed to further progress in lowering inflation. Traders also received encouraging inflation data that could give the central bank more reason to confidently cut interest rates further. The August’s personal consumption expenditures price index increased 0.1%, matching expectations. PCE increased 2.2% at an annualized pace, below the 2.3% forecast. PCE is the Federal Reserve’s preferred inflation metric, and policymakers are hoping for figures that show a cooling trend.

ESZ24 (DEC2024): YVAH 5813 YPOC 5804 YVAL 5789 GAP 5804

/ES Plan: Yesterday market closed balanced, and overnight continues on that way, moving within previous value, so these're the opening and initial balance options for today:

A) If market remains above YVAH 5813 with bullish internals, buy towards ONH 5817 ATH-ON 5830 magnet and PBTs 5857-67.

B) If market moves below YVAH 5813 with bearish internals, sell towards GAP 5804 magnet HVE 5798 and YVAL 5789.

Note: Market opens in balance. Don't be 'too anxious'. Stay patient. You don’t have to be the first. Bad trades occur when you try to force things to happen. It's Friday and traders who have made losses that week will likely take large risks to try and end the week with a profit. Try to be calm and focus on the market rather than thinking about your account.

Market Movers

10:00 AM Consumer Sentiment

01:00 PM Baker Hughes Rig Count

01:15 PM Fed's Bowman Speech

03:00 PM Farm Prices 

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