Outlook 03/13: Markets move sideways after Core CPI rises in-line with forecasts. February Consumer Price Index was +0.2% in-line with consensus. The consumer price index in-line is like a sleeper for investors today, due that number is likely to reaffirm the case for just three rate hikes in 2018.
/ESM8 Value: YVAH 2796 YPOC 2789 YVAL 2786
/ES Plan: Yesterday market closed leaving a bearish imbalance (PBT 2780 and GBT 2775). Overnight inventory is balanced moving a few ticks above yesterday's value. As usual we've these options:
A) If market remains above YVAH 2796 with bullish internals, try to be a buyer leaning on 2796-97 towards ONH 2805 LVN 2810 and PBT 2833. 'Look above and fail' is a signal of weakness.
B) If market starts to move below YVAH 2796 with bearish internals, become a seller leaning on 2796 towards YPOC 2789 and YVAL 2786. 'Look below and fail' is a signal of strength.
Tips: Markets started the week in a sideways range due to the quadruple expiration. Be cautious and reduce your risk/size.
Today's Economic Calendar
1:00 PM 30-Year Note Auction
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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