Last 2 Days

Outlook 12/30: Stock futures move lower on Monday ahead of the last few trading sessions of 2024. There was no apparent news catalyst for Monday’s decline and trading was expected to be light given the shortened week. Investors are hoping that stocks will find their footing again and trigger what’s known as a Santa Claus Rally. The phenomenon refers to the market rising into the final five trading days of a calendar year and the first two in January. This week ushers in a light period for economic data, with the market closed Wednesday in observance of New Years Day. Chicago PMI and pending homes sales data are due out Monday.

ESH25 (MAR2025): YVAH 6032 YPOC 6015 YVAL 5995 GAP 6030.25

/ES Plan: Last session market closed balanced, but overnight looks more bearish (PBT 5932), moving below previous value/range, so these're the opening and initial balance options for current session:

A) If market moves above HVE 5964 with bullish internals, buy towards YLOD 5982 YVAL 5995 and GAP-YVAH 6032 magnet.

B) If market moves below HVE 5964 with bearish internals, sell towards HVE-PBT 5932 HVE 5850 and GAP 5820 magnet.

Note: Overnight inventory is 100% bearish. The expected action is a counter-auction; failure to see the counter-auction would be an indication of potential bearish trend day. 

Note: It's a holiday week. The institutions aren’t really trading. Volume will be lower than usual but "Santa Rally" is still in play. Market needs an excess high to call an end to the current bullish auction.

Market Movers

9:45 Chicago PMI

10:00 Pending Home Sales

10:30 Dallas Fed Manufacturing Survey

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