FOMC begins

Outlook 09/19: U.S. stock futures are little changed ahead of Fed policy meeting. Investors are widely anticipating that the Fed will hold interest rates steady at the policy meeting this week. Traders will try get a better sense of the central bank’s stance on inflation from here. Traders are assigning a 99% chance that the Fed stays put when it releases its rate decision on Wednesday and just a 31% probability of a hike in November. How the Fed delivers the pause is crucial for November and December rate expectations, but whether it’s presented with a dovish or hawkish tilt is what matters most for financial markets.

/ESZ23 (Dec 2023): YVAH 4506 YPOC 4501 YVAL 4493 GAP 4503.25

/ES Plan: Yesterday market closed balanced, and overnight continues on that way, moving within previous value, so these're the opening and initial balance options for today:

A) If market moves above YVAL 4493 with bullish internals, buy towards GAP 4503.25 YVAH 4506 ONH 4509 and HVE 4511. 

B) If market moves below YVAL 4493 with bearish internals, sell towards YLOD 4487 HVE 4485-4477 and HVE-PBT 4464.

Note: If market opens below value and it begins to trade within value, Value Area Rule VAR comes into play.

Market Movers

FOMC meeting begins
1:00 PM 20-Year Bond Auction 

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