Outlook 05/02: U.S. stock index futures look balanced after FOMC meeting. the Fed refused to signal anything other than that it was still on pause, while Chair Jerome Powell said the factors dragging on inflation might be "transitory," not "persistent." FEd announced that it is holding the benchmark interest rate steady at a target range of 2.25% to 2.5%, noting that inflation is “running below” its stated target of 2%.
/ESM19 Value: YVAH 2955 YPOC 2950 YVAL 2940 GAP 2923
/ES Plan: Yesterday market closed bearish but overnight looks more balanced, moving below yesterday's value, so we've these options:
A) If market remains below LIS-HVE 2924 with bearish internals, sell towards HVE 2918 ONL 2915.50 and HVEs 2913-2907.
B) If market starts to move above 2924 with bullish internals, buy towards ONH 2932.25 HVEs 2936-2943 and YVAH 2955.
Quotes: “Don't ever make the mistake of believing that market success has to come to you fast. Trade small, stay in the game, persist, and eventually, you'll reach a satisfying level of proficiency.” Yvan Byeajee
Today's Economic Calendar
10:00 Factory Orders
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
