FOMC week

Outlook 03/18: U.S. stock futures climb Monday, as investors await a key artificial intelligence conference and look ahead to monetary policy guidance from the Federal Reserve later this week. Nvidia are up more than 2% in premarket ahead of the company’s GTC Conference, where the chipmaker is expected to showcase its latest inroads in artificial intelligence.  Alphabet rise 4% after report that Apple was in talks with Google to include the company’s Gemini AI in iPhones. Those moves took place ahead of the Fed’s two-day policy meeting, which is slated to start Tuesday and end with an announcement Wednesday.

/ESM24 (JUN 2024): YVAH 5193 YPOC 5184 YVAL 5175 GAP 5184

/ES Plan: Last session market closed bearish (PBT 5136), but reopening looks more bullish, moving above value, so these're the opening and initial balance options for today:

A) If market moves above YHOD 5230 with bullish internals, buy towards ATH 5253 ON-PBT 5260 and PBT 5280.

B) If market moves below YHOD 5230 with bearish internals, sell towards YVAH 5193 GAP 5184 and YVAL 5175.

Note: Overnight inventory is 100% bullish. The expected action is a counter-auction; failure to see the counter-auction would be an indication of potential trend day. Market opens above value and if it begins to trade within value, VAR comes into play. 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. 

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