Outlook 04/29: U.S. stock index futures are pointing to a muted open ahead of busy week. On Wednesday the Federal Reserve will make its third monetary policy decision of 2019. With a new GDP print showing another low reading on inflation, the Fed is expected to keep the benchmark interest rate steady at the current target range of 2.25% to 2.50%. All eyes will quickly shift to Fed Chair Jerome Powell's press conference after the monetary body announces its decision on rates.
/ESM19 Value: YVAH 2934 YPOC 2932 YVAL 2922 GAP 2942
/ES Plan: On Friday market closed bullish but overnight looks balanced, moving below Friday's range, so we've these options:
A) If market remains below LIS YHOD 2943 with bearish internals, sell towards ONL 2937.75 and HVEs 2936-2924.
B) If market starts to move above 2943 with bullish internals, buy towards ONH 2946.75 ATH 2947 and PBT 2961.
Quotes: “Don’t focus on making money; focus on protecting what you have.” – Paul Tudor Jones
Today's Economic Calendar
10:30 Dallas Fed Manufacturing Survey
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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