Weekend Review & What's Significant
Week of 9/1/2024
Happy Labor Day Weekend, Traders!
I hope you're all enjoying a well-deserved break during this extended weekend. As a quick reminder, the markets are officially closed until Tuesday. While the Futures Market will have a half-day session on Monday, I wouldn’t recommend getting too involved—expect minimal movement, likely just a small balance area.
Speaking of balance areas, we've been in a significant one for the past two weeks, with the market consistently accepting value at these highs following a robust three-week push. Buyers made a strong statement on Friday with an impressive close, leaving us with a bullish outlook heading into the weekend.
Next week is packed with red-tag news events from Tuesday through Friday, which is sure to inject some volatility into the markets. This could very well propel us out of this balance area, potentially continuing the upward trajectory.
I've laid out the key levels for both SPX and ES for your reference. Take a look, enjoy the rest of your holiday, and get ready to hit the ground running on Tuesday. Rest up, and let's prepare to conquer these markets next week!
Cheers,
Ryan Bailey
NEWS:
LEVELS OF INTEREST:
ES Futures
Cheat Sheets
Weekend Review: