Major Support/Resistance Levels- ES
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:Bonds (ZB), Dollar (DX)
Down: Gold (GC), Euro (6E), Crude Oil (CL)
News for the day:
10:00a: Existing Home Sales
10:30a: Dallas Fed Mfg Survey
*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 continued its steady move higher in setting an all-time high on Friday. From a macro perspective, the long-term trend will continue to be bullish until the Fed begins to raise interest rates. The charts are confirming the up move with the value areas increasing each day. Both time and volume have been spent near the highs and are signaling that the buyers are supporting higher prices. Tone continues to be bullish.
ES Daily Trend:Bullish
No comments:
Post a Comment