Just a weekly outlook I am looking at for the week. Last week FOMC predicts another .75 bps rate hike.
Weekly Outlook: If we are bullish I am considering the 3820 level to be a target since it has REH and from what my eyes see it would complete a MMBM. Price could also be pulled to the daily imbalance. High Impact news on Monday could set the low of the week. *LETTUCE-SEA**
Didn't publish my second outlook. I am bearish for this outlook. FOMC and doubt there will be a lot of movement out of concern of what will happen during FOMC. Key relative equal highs are at the peak of my arrow before the down movement.
Due to no news until Wednesday, we may continue for price to trend lower before reversing.
Thoughts are for us to continue to be bullish to make the high of the week by Tuesday, Then we trade down with expirations this Friday of the Big 4.
Weekly analysis. Initially I am thinking maybe price completes the MMSM at 3914. Based on the news this week we have drivers to possibly help us trade lower. The day before NFP seems to historically set up the "manipulation" which then takes price into a +Breaker on the daily. Just thinking out loud...
High impact news on Wednesday. CPI is expected extremely low all of a sudden. Giving vibes that inflation has peaked. With prediction so low, I feel this will come in higher than 0.2% and will drive price down Wednesday/Thursday to fill gap below.
High Impact all week. No trades after Wednesday due to NFP. LHF is always the goal. NQ has already taken its daily BSL. YM/ES lagging. If I see price take out 4205 by Wednesday, I expect the a retracement to clean up some of the imbalances below. If price closes above 4205 there is a possibly of price continuing. This is possible especially if NFP/Unemployment...