*Highlighted regions denote strong areas of support (green)/resistance (red) & mid-range level (brown)
Daily Outlook
Prior Day Market Sentiment: Bearish
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: 6A, 6J, Indexes
Down:ZM, NKD, ZS
News for the day:
PMI Manufacturing Index: 8:58a
ISM Manufacturing Index: 10:00a
Construction Spending: 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: Despite the government shutdown news, prices rallied in the overnight session and are primed to open above Monday's range. If buyers continue to step in at the open, the high probability is a touch of the VPOC at 1684.5 and then choppy price action above. If prices sell off, then potential buying opportunities are present at the value area high & POC.
ES Daily Trend:Neutral/Bullish
ES Weekly Trend: Bullish
ES Monthly Trend: Strongly Bullish
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