FOMC week

Outlook 01/29: U.S. stock futures are little changed ahead of big tech earnings and Fed meeting decision. This week marks the busiest slate of the earnings season. Mega-cap tech names Microsoft, Apple, Meta, Amazon and Alphabet will be posting their results. Meanwhile, the Federal Open Market Committee will begin its two-day policy meeting on Tuesday. Investors are nearly certain the central bank will keep rates steady. Traders in the fed funds futures market assigned an almost 97% probability the Fed will not cut rates at the upcoming meeting. 

/ESH24 (MAR 2024): YVAH 4925 YPOC 4915 YVAL 4912 GAP 4914.50

/ES Plan: Last session market closed bullish (PBT 4940), but overnight looks bullish (PBT 4930), moving within previous value, so these're the opening and initial balance options for today:

A) If market moves above YVAL 4912 with bullish internals, buy towards ONH 4922 YVAH 4925 and PBT 4940.

B) If market moves below YVAL 4912 with bearish internals, sell towards ONL 4902 YLOD 4899 and GAP 4893.

Note: Market opens inside value so let the market lead. You don’t have to be the first. Bad trades occur when you try to force things to happen. It's Monday and Mondays are usually the quietest days of the week. Many traders want to take their time analyzing the market, and usually, there are few economic releases.

Market Movers

10:30 Dallas Fed Manufacturing Survey 

11:30 3-6 Mo Bills Auction

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