*For FREE lessons on the Ichimoku Cloud and how it works, check out my other
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Major Support/Resistance Levels- ES
*Highlighted regions denote strong areas of support (green)/resistance (red) & mid-range level (brown)
Daily Outlook
Prior Day Market Sentiment: Bearish
Overnight Inventory Change:Net short
Inside Day/Outside Day:Outside
Location of price relative to market profile: Below value area
Notable overnight futures markets changes:
Up:SI, PL
Down:Indexes, NKD
News for the day:
Consumer Price Index: 8:30a
Jobless Claims: 8:30a
Empire State Manufacturing Survey: 8:30a
Treasury International Capital: 9:00a
Industrial Production: 9:15a
Housing Market Index: 10:00a
Philly Fed Survey: 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 set to open lower outside of yesterday's range and below the high volume area of 1677-1679 on a heavy news day in the markets. Given the premarket price location and the potential catalysts that the economic data could provide, the bulls will have their work cut out for them to get prices back into yesterday's range. If prices do sell off then the next level of support is at 1669.75 If the news doesn't meet expectations then thi
Stock of the Day:Walmart (WMT)
Earnings before the bell
ES Daily Trend: Strongly Bullish
ES Weekly Trend: Strongly Bullish
ES Monthly Trend: Strongly Bullish
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