Outlook 07/29: U.S. stock futures are ticking higher after the Fed concluded its two-day meeting by keeping interest rates in a target range between zero and 0.25%. No move was made on asset purchases, and while the economy is "making progress" toward its goals, it has ways to go before the central bank will adjust its easy policies. "We have some ground to cover on the labor market side," Powell declared. "I would want to see some strong job numbers."
/ESU21: YVAH 4401 YPOC 4396 YVAL 4389 GAP 4391.50
/ES Plan: Yesterday market closed balanced, but overnight looks more bullish, moving above yesterday's value, so these are the initial balance options for today:
A) If market remains above YVAH 4401 with bullish internals, buy towards HVE 4409 GAP-ATH 4416.75 and PBT 4427.
B) If market moves below YVAH 4401 with bearish internals, sell towards GAP 4391.50 YVAL 4389 ONL 4380 and GAP 4363.
Note: Market opens above previous value area and it's a clearly bullish signal. But, if market begins to trade within value with volume increasing, 'Value Area Rule (VAR)' comes into play.
Market Movers
10:00 Pending Home Sales
10:30 EIA Natural Gas Inventory
1:00 PM 7-Year Note Auction
4:30 PM Fed Balance Sheet
Follow updates using TweetDeck. Primary twitter language is English.
Follow the market news and listen to the order flow via FinancialJuice.
Questions via twitter direct message (RTH)
