FOMC Begins

Outlook 03/20: Today will have a light schedule to contend with as no major economic data is set for release while the Federal Reserve will begin its two-day policy meeting that will culminate in Wednesday's latest monetary policy statement at 2:00 p.m. ET.

/ESM8 Value: YVAH 2723 YPOC 2716 YVAL 2700

/ES Plan: Yesterday market closed bearish (PBT 2678) but overnight inventory is bullish (GBT 2732) moving a few ticks above Yesterday's range, so we've these options:

A) If market remains above YVAH 2723 with bullish internals, try to be a buyer leaning on 2723-2720 towards ONH 2729 and GBT 2732. 'Look below and fail' is a signal of strength.

B) If market starts to move below YVAH 2723 with bearish internals, become a seller leaning on 2723 towards YPOC 2716 and YVAL 2700. 'Look above and fail' is a signal of weakness.

Tips: Consider the habits of the product you trade, such as '10 Handle Rule' 'Value Area Rule' and 'One Tick Failure'. More on Glossary.

Today's Economic Calendar

FOMC meeting begins

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

Questions? Just ask via email or twitter @verniman direct message.