Back on track

Outlook 01/17: Stock futures tick higher early Friday, as traders and investors try to complete their first weekly gain of the new year. Those gains come after investors received back-to-back reports showing inflationary pressures softening somewhat. The core consumer price index rose less than expected year on year, and the producer price index also had a smaller-than-anticipated increase for December. Strong earnings from major banks also boosted stocks this week. All U.S. markets will be closed on Monday January 20, in observance of Martin Luther King, Jr. Day. There will be no Pre-Market or After Hours sessions.

ESH25 (MAR2025): YVAH 5997 YPOC 5990 YVAL 5978 GAP 5964

/ES Plan: Yesterday market closed bearish, but overnight looks more bullish, moving above previous value/range, so these're the opening and initial balance options for current session:

A) If market remains above YHOD 6018 with bullish internals, buy towards HVE 6035-6070 and PBT-GAP 6092 magnet. 

B) If market moves below YHOD 6018 with bearish internals, sell towards YVAH 5997 YVAL 5978 and GAP 5964 magnet.

Note: Overnight inventory is 100% bullish. The expected action is a counter-auction; failure to see the counter-auction would be an indication of potential bullish trend day. Market opens above value and if it begins to trade within value, VAR comes into play.

Market Movers

01:00 PM Baker Hughes Rig Count 

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