Daily S&P Outlook
Prior Day Market Sentiment: Bearish
Overnight Inventory Change:Bullish
Inside Day/Outside Day:Outside
Location of price relative to market profile: Above value area
Notable overnight futures markets changes:
Up: Crude Oil (CL), Natural Gas (NG), Dollar (DX), Gold (GC)
Down: Euro (6E)
Projected ES price
action for the day:The S&P has pushed through yesterday's high during the premarket and is poised for a test of the swing pivot high set on March 20th. The market cleared the trendline resistance and is in a longer term consolidation pattern. The profile references show the ES bouncing off the VPOC from April 13th. Intraday tone is bullish.
News for the day:
8:30a: Empire State Mfg Survey
9:15a: Industrial Production
10:00a: Housing Market Index
10:30a: Petroleum Status Report
2:00p: Beige Book Report
4:00p: Treasury International Capital
*Red highlight means the news is a market moving event;
yellow highlight means the news merits attention
S&P Daily Trend: Neutral