Outlook 03/19: There aren't any notable market-moving economic events on the schedule for Monday. Everyone, however, will be focused on the Federal Reserve, which holds its two-day monetary policy meeting on Tuesday and Wednesday. At the conclusion of the meeting, economists expect the Fed to announce an interest rate hike, an upward revision to its economic outlook, and an upgrade to its forecast for interest rates. Wednesday will also come with Jerome Powell's first press post-meeting conference as Fed Chair.
/ESM8 Value: YVAH 2763 YPOC 2760 YVAL 2756
/ES Plan: On Friday market closed balanced but overnight inventory is bearish (PBT 2725) moving below Friday's range, so we've these options:
A) If market remains below YLOD 2750 with bearish internals, become a seller leaning on 2750-49 towards LVN 2735 ONL 2733 and PBT 2725. 'Look below and fail' is a signal of strength.
B) If market starts to move above YLOD 2750 with bullish internals, try to be a buyer leaning on 2750 towards YVAL 2756 YPOC 2760 and YVAH 2763. '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'.
Today's Economic Calendar
01:00 PM FOMC Bostic speech
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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