Wait mode

Outlook 07/27: U.S. stock futures are ticking sideways waiting if the latest slew of earnings could be enough to power the next leg of the journey. Investors are also waiting for the Fed's view of inflation and monetary policy as the FOMC convenes its latest meeting today. It also takes place as the rapidly spreading Delta virus variant spurs concerns about the economic outlook. Meanwhile, Senate Majority Leader Chuck Schumer related that lawmakers may stay in session through the weekend to finish a bill on infrastructure, which is one of the pillars of President Biden's massive economic agenda.

/ESU21: YVAH 4413 YPOC 4409 YVAL 4398 GAP 4416

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

A) If market moves above HVE-YPOC 4409 with bullish internals, buy towards ONH-GAP 4416 and PBTs 4427-4438-4443.

B) If market moves below HVE-YPOC 4409 with bearish internals, sell towards ONL 4390.50 HVN 4385 and GAP 4363. 

Note: Market looks balanced, FOMC meeting begins, so don't be 'too anxious' to trade early. Bad trades occur are when you try to force things to happen, don’t force it. 

Market Movers

10:00 Consumer Confidence

10:00 Richmond Fed Mfg.

1:00 PM 5-Year Note Auction

1:00 PM Money Supply

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