Morning Update for Monday, March 30th

Daily S&P Outlook

Prior Day Market Sentiment:Neutral
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: Dollar (DX), Natural Gas (NG)
Down:Bonds (ZB), Crude Oil (CL), Euro (6E), Gold (GC)



Projected ES price action for the day: The bulls are looking to keep the uptrend in tack dating back to October 2014.  Prices did sell below the level last week and signs are pointing to added volatility around the range.  The S&P has seen some buying during the premarket, but it is currently trading in the middle of a high volume area.  The intraday tone is neutral to bullish.
 
News for the day:

8:30a: Personal Income and Outlays
10:00a: Pending 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

S&P Daily Trend: Neutral