New Record

Outlook 08/04: Stock futures printed new record high on Tuesday, fueled by strong quarterly results from companies such as Caterpillar and Palantir, as oil prices dropped amid optimism that a U.S.-Iran deal to reopen the Strait of Hormuz could be on the horizon. Treasury Secretary Scott Bessent said that “we are in talks with the Iranians.” He then added, “There is a chance we may have a deal today or tomorrow to open the Strait and move towards a more normalized position in this conflict.” Oil prices moved lower following Bessent’s comments, with WTI futures dropping 3% to around $77 per barrel.

ESU26 (Sep2026): YVAH 7638 YPOC 7632 YVAL 7586 GAP 7632

/ES Plan: Yesterday market closed bullish (PBT 7722), and overnight continues on that way, moving above value/range, so these're the opening and initial balance options for current session:

A) If market remains above last ATH 7646 with bullish internal/delta, buy towards ATH-ON 7666 and PBTs 7670-7715 magnets.

B) If market moves below last ATH 7646 with bearish internal/delta, sell towards GAP 7632 and YVAL-VAR 7586 both magnets.

Note:  If market opens above value and it begins to trade within value, VAR setup comes in play. Remember that a new record high has been printed overnight, so it's still pending to be revisited at regular hours. 

Market Movers

10:00 JOLTS Job Openings

10:00 Factory Orders MoM

10:00 Durable Goods Revised

11:30 52-Week Bill Auction

16:00 SpaceX Q2 Earnings

16:15 AMD Q2 Earnings

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