*Highlighted regions denote strong areas of support (green)/resistance (red) & mid-range level (brown)
Daily Outlook
Prior Day Market Sentiment: Bearish
Overnight Inventory Change: Net long
Inside Day/Outside Day: Inside
Location of price relative to market profile:Near POC
Notable overnight futures markets changes:
Up: NG, NKD, GC
Down:--
News for the day:
Consumer Price Index: 8:30a
Treasury International Capital: 9:00a
Housing Market Index: 10:00a
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: The ES is poised to open inside value, near the POC and close to the all-important 1700 level. When prices are within the value area, the likelihood is for choppy price action. If bulls lift the offer outside of value and above Tuesday's high of 1706.5, then the setup is for a trending day up. Otherwise, the higher probability is for two-sided trading below 1700.
ES Daily Trend:Neutral/Bullish
ES Weekly Trend: Bullish
ES Monthly Trend: Strongly Bullish
No comments:
Post a Comment