CPI data

Outlook 09/10: Stock futures tick higher Friday as oil prices declined and traders digested August’s consumer price index report. CPI rose 0.4% in August month over month and 3.4% year over year. However, excluding energy and food, CPI climbed 0.3%, slightly more than expected. This means the Fed should go with hiking rates next week and the yield curve, swaps and fed fund futures are all confirming the same. The surprise function would now be if the Fed remained on hold. 

ESU26 (Sep2026): YVAH 7612 YPOC 7599 YVAL 7594 GAP 7606 IVR 65

/ES Plan: Yesterday market closed bearish (PBT 7532), but overnight, after CPI, looks bullish, moving well above value/range, so these're the opening and initial balance options for current session:

A) If market moves above YHOD 7666 with bullish internal/delta, buy towards PBT 7685 magnet.

B) If market moves below YHOD 7666 with bearish internal/delta, sell towards GAP 7606 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 Movers

10:00 University Michigan Sentiment

14:00 US Federal Budget Balance

Follow news and listen to order flow at FinancialJuice.

Follow Twitter updates using TweetDeck old version.

Questions via private twitter direct message (RTH)