*Highlighted regions denote strong areas of support (green)/resistance (red) & mid-range level (brown)
Daily Outlook
Prior Day Market Sentiment: Bullish
Overnight Inventory Change: Neutral
Inside Day/Outside Day: Inside
Location of price relative to market profile: At value area high
Notable overnight futures markets changes:
Up: SI, CL
Down: ZM, ZS
News for the day:
ADP Employment Report: 8:15a
Jobless Claims: 8:30a
Productivity & Costs: 8:30a
Factory Orders: 10:00a
ISM Non-Mfg Index: 10:00a
Petroleum Status Report: 11:00a
*Red highlight means the news is a market moving event;
yellow highlight means the news merits attention
Projected ES price action for the day: Neutral/bullish. The market is poised to open within the value area near yesterday's high. As a result, buyers will look to lift prices above 1654.75 which would give the edge for the day to the bulls. On the other hand, if prices are rejected back into the daily range, then the higher probability is for a balancing day.
Stock of the Day: Zillow (Z)
New 52-week high
ES Daily Trend: Neutral
ES Weekly Trend: Bullish
ES Monthly Trend: Strongly Bullish
No comments:
Post a Comment