Outlook 03/21: U.S. equity futures struggled for traction on Thursday as investors digested a dovish lurch by policy makers in the world’s largest economy. The Federal Reserve on Wednesday brought its 3-year drive to tighten monetary policy to an abrupt end, abandoning projections for any rate hikes this year amid signs of an economic slowdown, saying it would halt the steady decline of its balance sheet in September.
/ESM19 Value: YVAH 2837 YPOC 2830 YVAL 2819 GAP 2826.75
/ES Plan: Yesterday market closed bearish and overnight continues on that way, moving below yesterday's value, so we've these options:
A) If market remains below LIS-HVE 2819 with bearish internals, sell towards ONL 2815 HVEs 2814-2808 LVN 2800 and HVE 2796.
B) If market starts to move above HVE 2819 with bullish internals, buy towards GAP 2826.75 ONH 2836 and HVEs 2842-2846-2850.
Tips: LIS remains valid during IB (1st RTH Hour), then VWAP-VAH-VAL-LVN come into play as dinamic Bull/Bear Line.
Today's Economic Calendar
10:00 Leading Indicators
10:00 Quarterly Services Report
10:30 EIA Natural Gas Inventory
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
Questions via @verniman direct message (RTH) or email (After Close).
Glossary of terms
