FOMC begins
Outlook 03/19: There's another positive session in store, with U.S. stock index futures pointing to gains of 0.3%. Market focus is largely attuned to central bank expectations, with the Fed due to kick-off its two-day policy meeting later in the session. Most investors expect the FOMC to strike a dovish tone and lower its "dot plot" to show little or no further tightening in 2019.
/ESM19 Value: YVAH 2840 YPOC 2838 YVAL 2833 GAP 2840.50
/ES Plan: Yesterday market closed bullish (PBT 2850) and overnight continues on that way, moving above yesterday's range with a bimodal profile (LIS 2846), so watching all these clues, we've these options:
A) If market remains above LIS-HVE 2846 with bullish internals, buy towards ONH 2853 and HVEs 2857-2864-2867.
B) If market starts to move below 2846 with bearish internals, sell towards GAP 2840.50 ONL 2839.25 and HVE 2837.
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
FOMC meeting begins
10:00 Factory Orders
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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