Hawkish FOMC

Outlook 04/12: Fed officials appeared to lean hawkish at their most recent policy meeting, with "all participants" expecting the economy to strengthen and inflation to rise "in coming months." Earnings season will kick off in earnest today and tomorrow, with reports from big financial institutions like JPMorgan, Citigroup, Wells Fargo and PNC Financial.

/ESM8 Value: YVAH 2654 YPOC 2645 YVAL 2642

/ES Plan: Yesterday market closed balanced and overnight inventory is bimodal (LIS 2649), moving within yesterday's value, so we've these options:

A) If market remains above LIS 2649 with bullish internals, be a buyer leaning on 2649-50 towards YVAH 2654 ONH 2657 and LVN 2661. 'Look below and fail' is a signal of strength.

B) If market moves below LIS 2649 with bearish internals, become a seller leaning on 2649-48 towards YVAL 2642 ONL 2639 and LVN 2637. 'Look above and fail' is a signal of weakness.

Tips: As always, keep an eye on President Donald Trump's Twitter feed due the rising tensions in the Middle East. Any news about that, could throw any plan through the window.

Today's Economic Calendar

09:45 Bloomberg Consumer Comfort Index
10:30 EIA Natural Gas Inventory
01:00 PM 30-Year Note Auction

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

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