Outlook 09/10: Monday comes with no major market-moving economic data or earnings announcements scheduled for release. At 3pm ET, we'll get the Fed's July report on consumer credit balances, which is estimated to have expanded by $14 billion. In the week ahead, the main economic highlight will be the monthly retail sales report, expected to show sales rose 0.5% in August. Investors will also keep their eye on key inflation data as well as sentiment checks on both the U.S. consumer and the small business sector.
/ESU8 Value: YVAH 2878 YPOC 2872 YVAL 2869
/ES Plan: On Friday market closed leaving a bearish profile (PBT 2858) but overnight looks bimodal (LIS 2882), moving above Friday's value, so we've these options:
A) If market remains above LIS 2882 with bullish internals, become a buyer leaning on 2882 towards ONH 2886.75 HVE 2891 and GAP 2898.50 'Look above and fail' is a bearish signal.
B) If market starts to move below LIS 2882 with bearish internals, try to lean on 2882 towards GAP 2875 ONL 2873.25 and PBT-GAP 2857.75 'Look below and fail' is a bullish signal.
Today's Economic Calendar
11:30 Fed's Bostic speech
12:30 PM TD Ameritrade IMX
03:00 PM Consumer Credit
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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