After FOMC

Outlook 06/17: U.S. stock futures were mostly flat after the FOMC day. The Fed raised its expectations for inflation considerably, saying the headline figure could reach 3.4%, marking a full percentage point higher than its forecast in March. While Powell still feels the price pressures are "transitory," it may now take some comforting numbers to reassure investors.  The central bank also brought forward the time frame on when it will next raise rates. The so-called dot plot of individual FOMC member expectations pointed to two hikes in 2023, after Powell said in March that he saw no increases until at least 2024. 

/ESU21: YVAH 4242 YPOC 4235 YVAL 4212 GAP 4213.25

/ES Plan: Yesterday market closed bearish, but overnight looks more balanced, moving below yesterday's value so these are the initial balance options for today:

A) If market moves above HVE 4205 with bullish internals, buy towards  YVAL-GAP 4212-13 and HVE-YPOC 4233-35.

B) If market moves below HVE 4205 with bearish internals, sell towards HVE 4188 ONL 4183 HVE 4163 and GAP 4157.

Note: Remember that new record high has been printed overnight, so it's still pending to be revisited at regular trading hours.

Market Movers

10:00 Leading Indicators

10:30 EIA Natural Gas Inventory

4:30 PM Fed Balance Sheet

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