Thursday, June 19, 2014

Morning Update for Thursday, June 19th

Major Support/Resistance Levels- ES



Daily Outlook

Prior Day Market Sentiment: Bullish
Overnight Inventory Change: Neutral
Inside Day/Outside Day: Inside
Location of price relative to market profile: Above value area
Notable overnight futures markets changes:
Up:NKD (Nikkei), ZW (Wheat), ZO (Oats), SI (Silver), ZC (Corn), GC (Gold), 6A (Aussie Dollar)
Down: --


News for the day:

Jobless Claims: 8:30a
Philadelphia Fed Survey: 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: And the buying continues.  After a neutral Fed announcement yesterday, traders continued to lift the offers back near the all-time records.  The profile showed a wide range distribution with prices closing near Wednesday's high of 1949.25, the key level to watch for today.  The tone remains positive with the next long target at 1954.

Stock of the Day: Amazon, Inc. (AMZN)- Announcement yesterday of 3D smartphone






ES Daily Trend: Bullish




ES Weekly Trend:  Bullish





ES Monthly Trend:  Bullish 





























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