Outlook 03/06: U.S. stock index futures are pointing to a lower open, with the SP500 in the red. The Federal Reserve will be releasing its Beige Book on economic conditions at 2PM ET. The report prepared for the March Federal Open Market Committee (FOMC) meeting is expected to show that businesses are growing increasingly concerned about the current state of the economy.
/ESH19 Value: YVAH 2795 YPOC 2792 YVAL 2789 GAP 2791.50
/ES Plan: Yesterday market closed balanced but, overnight opened bearish and now it shows some bounce, moving within previous value, so we've these options:
A) If market remains above YVAL-HVE 2789 with bullish internals, buy towards GAP 2791.50 HVE 2796 LVN 2800 and HVE 2808.
B) If market starts to move below 2789 with bearish internals, sell towards HVE 2784 ONL 2781.50 and HVEs 2775-2769.
Today's Economic Calendar
10:30 EIA Petroleum Inventories
12:00 PM Fed's Mester Speech
12:10 PM Fed's Williams Speech
02:00 PM Fed's Beige Book
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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Glossary of terms
