Prior Day Market Sentiment:Neutral
Overnight Inventory Change:Net short
Inside Day/Outside Day: Inside
Location of price relative to market profile: Near value area low
Notable overnight futures markets changes:
Up: Soybeans (ZS), Bonds (ZB), Corn (ZC), 10 Year Treasury Note (ZN)
Down:Natural Gas (NG), Crude Oil (CL)
Projected ES price action for the day:Today is significant with the Fed annoucement set for 2p this afternoon. Tread carefully if trading before the news as the markets typically trade in a horizontal range as market participants position themselves for the macro-driven Fed event. Remember to trade price first and news second as evidenced most recently by the market selloff after last week's positive job report.
News for the day:
10:30a: Petroleum Status Report
2:00p: FOMC Annoucement
*Red highlight means the news is a market moving event;
yellow highlight means the news merits attention
S&P Daily Trend: Neutral
No comments:
Post a Comment