Outlook 06/12: Markets are not reacting to the meeting between North Korean leader Kim Jong Un and U.S. President Donald Trump in Singapore. The two signed a "very comprehensive" document, but did not share any details. "We both are going to do something," Trump said after the meeting. FOMC meeting begins today. The Fed is expected to raise its target range for the Federal Funds rate by 25 basis points on Wednesday, its second interest rate increase of the year.
/ESU8 Value: YVAH 2791 YPOC 2786 YVAL 2784
/ES Plan: Yesterday market closed bimodal (LIS 2790). Overnight profile is balanced, moving within yesterday's value, so we've these options:
A) If market remains below LIS 2790 with bearish internals, become a seller leaning on 2790 towards GAP 2786.50 ONL 2782.50 and LVN 2776. 'Look above and fail' is a bearish signal.
B) If market starts to move above LIS 2790 with bullish internals, become a buyer leaning on 2790 towards ONH 2792 HVE 2794 and LIS 2800. 'Look below and fail' is a bullish signal.
Today's Economic Calendar
1:00 PM 30-Year Note Auction
2:00 PM Treasury Budget
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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