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Futures Trading Playbook: Strategy for September 23rd

 • Market Overview: The trading week starts with a strong bull market, pushing major indices to new highs after a recent rate cut.

 • Key Event: Fed Chair Jerome Powell’s speech at 12:35 p.m. Eastern Time is a critical market event, potentially introducing volatility.

 • Economic Data Releases: Watch for the S&P flash U.S. services PMI and manufacturing PMI for September.

 • Equity Futures Trend: The primary trend is higher, but caution against chasing the rally is advised.

 • S&P 500 (ES) Outlook: Bullish bias is maintained above $665, with potential resistance at $668 and $678. Pullbacks towards $661 or $662.50 may present buying opportunities.

 • Nasdaq 100 (NQ) Outlook: Described as “insanely bullish” with a short-term target of $604 to $605.

 • QQQ Pullback Risk: QQQ gapped up to a new all-time high, creating an open gap at $591.75, which is likely to fill, potentially leading to a swift move down.

 • Nvidia (NVDA) Performance: NVDA surged nearly 4% driven by news of a planned $100 billion investment in OpenAI for data center build-out.

 • Apple (AAPL) Performance: AAPL rose 4% on Monday, driven by strong preliminary demand readings for the iPhone 17.

 • Stock Resistance and Support Levels: Watch the $259/$260 resistance zone and $253 support level for potential price movements.

 • Bond Market as an Economic Indicator: Monitor the TLT ETF’s $88 breakout level for clues about inflation and recession risks.

 • Strategic Market Approach: Avoid chasing overextended markets and instead prepare to buy pullbacks.

 • Investment Strategy: Consider waiting for the end of the year or earnings season for potential buying opportunities.

 • Market Drivers: Profit margin expansion and double-digit earnings growth are key factors supporting the stock market.

 • Earnings Season: Starting October 14th, this period may present buying opportunities after companies report earnings and stock prices potentially decline.


Location: New York, NY, USA

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