Major Support/Resistance Levels- ES
*Highlighted region(s) denote strong area(s) of support/resistance
Daily Outlook
Prior Day Market Sentiment:Neutral
Overnight Inventory Change:Net long
Inside Day/Outside Day:Inside
Location of price relative to market profile: Above value area
Notable overnight futures markets changes:
Up:NKD, ZC, ZW
Down:SI, NG, CL, GC
News for the day:
S&P Case-Shiller HPI: 9:00a
Consumer Confidence: 10:00a
*Red highlight means the news is a market moving event;
yellow highlight means the news merits attention
Projected ES price action for the day: The ES is targeting an open within yesterday's range and above value area. Given the low volume recently and the lack of new buyers or sellers to add momentum to the markets, the key reference levels for the day will be Monday's high and low (1686.25 and 1676.5). Anything above, edge to the bulls; anything below, edge to the bears.
Stock of the Day:3D Systems Corp. (DDD)
Earnings before the bell.
*See blog post for earnings preview.
ES Daily Trend: Strongly Bullish
ES Weekly Trend: Strongly Bullish
ES Monthly Trend: Strongly Bullish
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