Prior Day Market Sentiment:Bullish
Overnight Inventory Change: Net short
Inside Day/Outside Day: Outside
Location of price relative to market profile: Below value area
Notable overnight futures markets changes:
Up:Natural Gas (NG), Dollar (DX), Bonds (ZB), 10 Year Treasury (ZN)
Down: Euro (6E), Crude Oil (CL), Soybeans (ZS), Corn (ZC), Gold (GC)
Projected ES price action for the day: The S&P is seeing some follow through selling below the 2100 price range. Yesterday's price activity was completely inside of Friday's selloff and was a sign of a neutral tape. Now that volatility is starting to expand, the higher probability is for continued selling when the market opens. The natural targets are the VPOCs at 2061.75 and 2051.75. Intraday edge is bearish.
News for the day:
10:00a: Jolts
*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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