*Highlighted regions denote strong areas of support (green)/resistance (red) & mid-range level (brown)
Daily Outlook
Prior Day Market Sentiment:Bearish
Overnight Inventory Change:
Inside Day/Outside Day: Net long
Location of price relative to market profile:Between value area high/POC
Notable overnight futures markets changes:
Up: ZW, ZC
Down: SI, 6B
News for the day:
NONE
(Monthly Employment report cancelled due to government shutdown)
*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 inside the wide value area created after the significant volatility on Thursday. Typically, the larger the value area, the more likely prices are to bounce off of value area high and low. As a result, 1677 and 1668.75 will be the key levels to watch for an edge to the bulls or the bears.
ES Daily Trend:Neutral/Bullish
ES Weekly Trend: Bullish
ES Monthly Trend: Strongly Bullish
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