Major Support/Resistance Levels- ES
*Highlighted regions denote strong areas of support (green)/resistance (red) & mid-range level (brown)
Daily Outlook
Prior Day Market Sentiment: Bullish
Overnight Inventory Change: Net long
Inside Day/Outside Day: Outside
Location of price relative to market profile: Above value area
Notable overnight futures markets changes:
Up: NKD, Indexes
Down:VX, CL, SI, GC, 6J, NG
News for the day:
NONE
*Red highlight means the news is a market moving event;
yellow highlight means the news merits attention
Projected ES price action for the day: Bullish. Buyers were active in the overnight session, lifting prices above the value area. If the buying continues at the open, then the natural target is the VPOC at $1685.25. At this point, the best the bears can hope for is prices to pull back into yesterday's range, so the main downside price level to watch is at 1671.75.
Stock of the Day: Blackberry (BBRY)
Starting to fill the gap up to $14 amid continued buyout rumors.
ES Daily Trend: Neutral
ES Weekly Trend: Bullish
ES Monthly Trend: Strongly Bullish
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