*Highlighted regions denote strong areas of support (green)/resistance (red) & mid-range level (brown)
Daily Outlook
Prior Day Market Sentiment: Bearish
Overnight Inventory Change: Neutral
Inside Day/Outside Day: Inside
Location of price relative to market profile: At POC
Notable overnight futures markets changes:
Up: NKD, KC, 6A, 6N
Down: SI, HG, ZS, ZC, GC, CL
News for the day:
Motor Vehicle Sales: 8:30a
International Trade: 8:30a
Beige Book: 2:00p
*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. The market is set to open inside the value area near the POC. The ES has already shown signs of neutrality on the daily chart so fading the value area high/low and previous day high/low are the higher probability trading opportunities until proven otherwise.
Stock of the Day: Dollar General (DG)
*Up 4% in the premarket
ES Daily Trend: Neutral
ES Weekly Trend: Bullish
ES Monthly Trend: Strongly Bullish
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