Outlook 09/11: U.S. stock futures traded higher early Friday after a volatile session in which the recent tech sell-off resumed. Another one-week decline would mark the SP500′s first back-to-back weekly drop since May. The broader market index was also on pace for its worst week since June 26, when it slid 2.9%.
/ESU20 Value: YVAH 3424 YPOC 3390 YVAL 33680 GAP 3340.50
/ES Plan: Yesterday market closed bearish, but overnight looks more balanced, but still moving below Yesterday's value, so these are the initial balance options for today's opening:
A) If market remains above LIS HVE 3344 with bullish internals, buy towards ONH 3364.75 and HVEs 3383-3398.
B) If market moves below LIS HVE 3344 with bearish internals, sell towards ONL 3331.75 HVEs 3319-3299-3279.
Note: Rollover Day. Pace of the Roll 50%. I start quoting ESZ20 December contract. Usually rollover days show big divergences between Stocks vs. Futures, so setups that usually work well, may fail completely.
Market Movers
10:00 Quarterly Services Report
01:00 PM Baker-Hughes Rig Count
02:00 PM Treasury Budget
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