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: At POC
Notable overnight futures markets changes:
Up: ZO (Oats), NG (Nat Gas)
Down: ZL (Soybean Oil), NKD (Nikkei)
News for the day:
Jobless Claims: 8:30a
*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 S&P once again made an all-time high as large traders and institutions continued to buy up the contracts. From a profile perspective, the value area rose as well, creating a P shaped formation with the bulls being active right from the start. The buying continued in the premarket as another record level was made. Intraday edge is bullish with Wednesay's high of 1927 being the key price point for the day.
Stock of the Day:Joy Global, Inc. (JOY)- Earnings reported before the bell
ES Daily Trend: Bullish
ES Weekly Trend: Bullish
ES Monthly Trend: Bullish
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