*Highlighted regions denote strong areas of support (green)/resistance (red) & mid-range level (brown)
Daily Outlook
Prior Day Market Sentiment:Bullish
Overnight Inventory Change: Net long
Inside Day/Outside Day: Outside
Location of price relative to market profile:Above value area
Notable overnight futures markets changes:
Up: NG
Down:VX, SI, GC, ZC, CL
News for the day:
PPI: 8:30a
Retail Sales: 8:30a
Consumer Sentiment: 9:55a
Business Inventories: 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:Sentiment continues to be bullish after the news of a potential resolution in Congress. The key level of resistance will be 1692.25, the previous day high. Watch for the bulls to protect the previous day high of 1687.75.
ES Daily Trend:Neutral/Bullish
ES Weekly Trend: Bullish
ES Monthly Trend: Strongly Bullish
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