Monday, March 9, 2015

Morning Update for Monday, March 9th

Daily S&P Outlook

Prior Day Market Sentiment: Bearish
Overnight Inventory Change: Neutral
Inside Day/Outside Day: Inside
Location of price relative to market profile: Near POC
Notable overnight futures markets changes:
Up:Corn (ZC), Gold (GC), Soybeans (ZS), Crude Oil (CL)
Down: Natural Gas (NG)



Projected ES price action for the day: The S&P showed its first sign of pulling back from the all-time highs after selling off on positive news from the monthly jobs report.  It serves as an important lesson to trade price first and news second.  After consolidating for the past two weeks, the announcement brought added volatility to the markets.  The short term trend is bearish until prices get above the 2100 level and the intraday bias is neutral.
 
News for the day:

*NONE*


*Red highlight means the news is a market moving event;
yellow highlight means the news merits attention

S&P Daily Trend:Bullish






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