*Highlighted regions denote strong areas of support (green)/resistance (red) & mid-range level (brown)
Daily Outlook
Prior Day Market Sentiment:Bullish
Overnight Inventory Change:Neutral
Inside Day/Outside Day: Inside
Location of price relative to market profile: At value area low
Notable overnight futures markets changes:
Up: ZC, ZW, ZO, ZS
Down: NKD
News for the day:
Consumer Price Index: 8:30a
Treasury International Capital: 9:00a
Housing Market Index: 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: Neutral. Despite the large gap up on Monday, prices mostly sold off during the day, resulting in a wide value area. As a result, watch for a test of value area high/low. There is a large volume node between 1680-1685 and should serve as a key support area. On the upside, the all-time high of 1705 continues to be the key point of reference.
ES Daily Trend:Bullish
ES Weekly Trend: Strongly Bullish
ES Monthly Trend: Strongly Bullish
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