Rocky Start

Outlook 01/02: Stock futures rise slightly Friday after a volatile start to the new year. Market kicked off January with a choppy trading session, with investors taking profits in some notable 2024 gainers such as Apple and Tesla. Those moves come after stocks ended 2024 on a sour note, with the SP500 closing out the year with four consecutive days of losses, a first going back to 1966. The economic calendar is thin on catalysts this week, but traders on Friday will watch for the latest reading of the ISM Manufacturing Index. Federal Reserve officials Thomas Barkin and Mary Daly are also set to speak. 

ESH25 (MAR2025): YVAH 5985 YPOC 5947 YVAL 5911 GAP 5922

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

A) If market moves above YPOC 5947 with bullish internals, buy towards YVAH 5985 YHOD-HVE 5995 and GAP 6030 magnet.

B) If market moves below YPOC 5947 with bearish internals, sell towards GAP 5922 magnet YVAL 5911 and YLOD 5894.

Note: It's a holiday week. The institutions aren’t really trading. Volume will be lower than usual.

Market Movers

10:00 AM ISM Manufacturing Index
10:30 AM EIA Natural Gas Inventory
11:00 AM Fed's Barkin Speech
1:00 PM Baker Hughes Rig Count

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