Seasonal concern

Outlook 09/03: Stock futures declined Tuesday as traders braced for a potentially tough month ahead after a strong but volatile August. U.S. markets were closed Monday due to the Labor Day holiday. The major averages are coming off a winning session, securing a gain for major averages in the month. Notably, the SP500 clinched its fourth straight winning month. Investors will get their first major economic report of the month on Friday, when the U.S. government releases the August jobs report. Markets will also have to contend with seasonal headwinds, as September has been the worst month on average for the S&P 500 over the last 10 years.

ESU24 (SEP2024): YVAH 5644 YPOC 5638 YVAL 5612 GAP 5654.25

/ES Plan: Last session market closed bullish, but reopening looks bearish, moving within previous value, so these're the opening and initial balance options for today:

A) If market moves above HVE 5631 with bullish internals, buy towards YPOC 5638 YVAH 5644 and GAP 5654.25

B) If market rmoves below HVE 5631 with bearish internals, sell towards YVAL 5612 HVE 5610 and YLOD 5594.

Note: It's Tuesday but Today works as Mondays, first day of a short week and usually a quiet day. Many traders want to take their time analyzing the market, and there are few economic releases. Don't be 'too anxious'. Let the market lead. You don’t have to be the first. Bad trades occur when you try to force things to happen. 

Market Movers

09:45 AM PMI Manufacturing Final

10:00 AM ISM Manufacturing Index

10:00 AM Construction Spending

11:00 AM Treasury Buyback

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