*Highlighted regions denote strong areas of support (green)/resistance (red) & mid-range level (brown)
Daily Outlook
Prior Day Market Sentiment: Neutral
Overnight Inventory Change: Neutral
Inside Day/Outside Day: Inside
Location of price relative to market profile: At value area low (*subject to change based on employment news results)
Notable overnight futures markets changes:
Up: ZW, NG
Down: NKD, GC, SI
News for the day:
Employment Situation: 8:30a
*Red highlight means the news is a market moving event;
yellow highlight means the news merits attention
Projected ES price action for the day: Everything hinges on the employment news coming out at 8:30a. The ES has been balancing the past for the past week with a slight edge to the bulls. The jobs report should provide the necessary catalyst to propel the markets in one direction so high volatility is the expectation. As a result, watch 1665-1667 as key resistance and key support at 1638-1640.
Stock of the Day: SINA Corp (SINA)
*Alibaba in talks to invest in the company
ES Daily Trend: Neutral
ES Weekly Trend: Bullish
ES Monthly Trend: Strongly Bullish
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