*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:Neutral
Inside Day/Outside Day:Inside
Location of price relative to market profile: Below value area
Notable overnight futures markets changes:
Up:ZB
Down:NKD, SI, CT, ZS, ZC, CL
News for the day:
NONE
*Red highlight means the news is a market moving event;
yellow highlight means the news merits attention
Projected ES price action for the day: Neutral/bearish. Prices are set to open inside Monday's range. The natural test for the bears will be the previous day low at 1642.25. From there, the next confluence area of support is at 1635. However, if bulls can lift the offer, then the likelihood is for prices to trade within the value area.
Stock of the Day:Home Depot (HD)
Earnings before the bell
ES Daily Trend: Bullish
ES Weekly Trend: Strongly Bullish
ES Monthly Trend: Strongly Bullish
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