Busy Week

Outlook 06/14: U.S. stock futures were steady in early morning trading Monday as investors digested the SP500′s record level heading into a week with a key Federal Reserve meeting. The central bank is not expected to take any action, its forecasts for interest rates, inflation and the economy could move the markets. Fed Chairman Jerome Powell speaks to the press after the central bank issues its statement Wednesday and traders will be parsing his comments for any clues as to when the Fed could start to end its aggressive monthly asset purchases, especially given recent hotter-than-expected inflation readings.

/ESU21: YVAH 4233 YPOC 4230 YVAL 4226 GAP 4235.75

/ES Plan: Last session market closed balanced, and overnight continues on that way, moving above Friday's value so these are the initial balance options for today:

A) If market remains above YVAH 4235 with bullish internals, buy towards  HVE 4239 ATH 4249 and PBTs 4261-4277.

B) If market moves below YVAH 4235 with bearish internals, sell towards HVE 4233 YVAL 4226  HVEs 4219-4213.

Note: Keep in mind that we're on the rollover week, so volume from June starts to dries up towards September contract. Pace of the Roll 50%. I start quoting ESU21 September contract. Usually rollover days show divergences, so setups that usually work, may fail completely.

Market Movers

11:30 3-Month Bill Auction

11:30 6-Month Bill Auction

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