Outlook 04/11: Markets eager to learn what Fed policymakers think of the U.S.-China trade dispute, the yield curve and the pace of future rate hikes may get a peek at their outlook today when the central bank publishes minutes of its March meeting.
/ESM8 Value: YVAH 2660 YPOC 2656.50 YVAL 2647
/ES Plan: Yesterday market closed bullish (PBT 2680-2700) but overnight inventory is bearish (GBT 2610), moving below yesterday's value, so we've these options:
A) If market remains below HVE 2636 with bearish internals, become a seller leaning on 2636 towards ONL 2626 and GBT 2610. 'Look above and fail' is a signal of weakness.
B) If market starts to move above HVE 2636 with bullish internals, be a buyer leaning on 2636 towards ONH 2655 and LVN 2661. 'Look below and fail' is a signal of strength.
Tips: When I mention 'bullish or bearish' internals, I refer to these internals to be positive/negative and/or at least the channel slope rising/falling. These internals can help you to confirm your decision.
Today's Economic Calendar
10:00 Atlanta Fed's Business Inflation Expectations
10:30 EIA Petroleum Inventories
01:00 PM 10-Year Note Auction
02:00 PM FOMC minutes
02:00 PM Treasury Budget
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.
