*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:Outside
Location of price relative to market profile: Above value area
Notable overnight futures markets changes:
Up: --
Down: SI, GC, NG
News for the day:
Housing Starts: 8:30a
Petroleum Status: 10:30a
FOMC Meeting Announcement: 2:00p
*Red highlight means the news is a market moving event;
yellow highlight means the news merits attention
Projected ES price action for the day: Everything hinges on the FOMC minutes this afternoon. As a result, the higher probability is for prices to trade within range until 2:00p, especially during the lunchtime before heightened volatility ensues when the news is released.
ES Daily Trend:Bullish
ES Weekly Trend: Strongly Bullish
ES Monthly Trend: Strongly Bullish
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