Outlook 09/17: U.S. stock futures are still down 1% following a session that turned sour yesterday after the big Fed meeting. While the FOMC said interest rates could stay anchored to the zero-bound through 2023 (as the central bank tries to spur inflation), Jerome Powell kept asset purchases at current levels and sounded some alarm bells. "More fiscal support is likely to be needed," he declared, signaling the Fed can't rescue the "highly uncertain" economy alone and Congress needs to act quickly on another coronavirus relief package.
/ESZ20 Value: YVAH 3414 YPOC 3409 YVAL 3392 GAP 3379/ES Plan: Yesterday market closed bearish, and overnight continues on that way, moving below Yesterday's range, so these are the initial balance options for today's opening:
A) If market moves below LIS HVE 3319 with bearish internals, sell towards ONL 3310.25 HVE 3299 and PBT 3279.
B) If market moves above LIS 3319 with bullish internals, buy towards HVEs 3338-59 GAP 3379 and ONH 3486.50.
Note: Overnight inventory is 100% bearish. The expected action is a counter-auction relative to overnight inventory; failure to see the counter-auction would be an indication of a potential trend day.
Market Movers
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Note: Overnight inventory is 100% bearish. The expected action is a counter-auction relative to overnight inventory; failure to see the counter-auction would be an indication of a potential trend day.
Market Movers
10:30 EIA Natural Gas Inventory
04:30 PM Money Supply
04:30 PM Fed Balance Sheet
Questions via @verniman direct message (RTH) or email (After Close).
Follow alerts using TweetDeck. Primary twitter language is English.
No unauthorized reproduction of this service without permission.
