4 Rate Hikes

Outlook 02/28: Federal Reserve Chair Jerome Powell hints that the Fed will raise interest rates 4 times in 2018. In response to questions from Rep. Carolyn Maloney, Powell hinted that more aggressive action on raising interest rates from the Fed could be warranted this year.

/ES Value: YVAH 2780 YPOC 2770 YVAL 2751

/ES Plan: Yesterday market closed balanced and overnight inventory is bullish (GBT 2765), so we've these options:

A) If market remains above LIS 2746 with bullish internals, try to be a buyer leaning on 2746-2751 towards GBT 2765 YPOC 2770 and LVN 2772. 'Look above and fail' is a signal of weakness.

B) If market starts to move below LIS 2746 with bearish internals, try to be a seller leaning on 2746-2745 towards ONL 2738 and LVN 2731. 'Look below and fail' is a signal of strength.

Tips: Yesterday was a big down day so as usual after a trend day, be prepared for a bounce back up. Keep in mind that's the last day of the month and options expiration. End of month always adds volatility.

Today's Economic Calendar

09:45 Chicago PMI
10:00 Pending Home Sales
10:30 EIA Petroleum Inventories

Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.

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