traderdan59

traderdan59

In an up trending market, pull backs last few days. Any test of yesterday's LOW could provide direction for the day. Level to watch: 4200 ---4198 Reports to watch: US: Chicago PMI 9:45 AM ET US:JOLTS 10:00 AM ET US: Beige Book 2:00 PM ET

traderdan59

After a pop last week, market is pulling back which could be due to lack of confidence by traders in any rally. Any test of ETH Low could provide direction for the day. Level to watch: 4131--- 4133 Report to watch: US:EIA Petroleum Status Report 10:30 AM ET US:FOMC Minutes 2:00 PM ET

traderdan59

Even though, S&P has pulled back yesterday afternoon, it is trading in a range overall. Any test of ETH session High could provide direction for the day. Level to watch 4140 --- 4138 Report to watch: US:EIA Petroleum Status Report 10:30 AM ET

traderdan59

S&P 500 is struggling to get over 4150 level which was tested twice in last few days. Any test of ETH session High could provide direction for the day. Level to watch :4168 --- 4170 Report to watch: US:EIA Petroleum Status Report 10:30 AM ET

traderdan59

Traders are being cautious before Fed announcement today. Any test of ETH session High could provide direction for the day. Level to watch : 4145 ---4143 Reports to watch: US:ISM Services Index 10:00 AM ET US:EIA Petroleum Status Report 10:30 AM ET US:FOMC Announcement 2:00 PM ET US:Fed Chair Press Conference 2:30 PM ET

traderdan59

After a sharp decline yesterday, traders might try to test yesterday's levels. Any test of ETH session High could provide direction for the day. Level to watch: 4113 --- 4111 Report to watch: US:EIA Petroleum Status Report 10:30 AM ET

traderdan59

Yesterday market tested February Highs and got rejected. For this rally to continue , yesterday's High needs to be breached. Level to watch: 4164- 4162 Reports to watch: US:EIA Petroleum Status Report 10:30 AM ET US: Beige Book 2:00 PM ET

traderdan59

This AM market rallied substantially based on CPI numbers. Traders might fade that rally during RTH session. Level to watch 4162 --- 4164 Reports to watch: US:EIA Petroleum Status Report 10:30 AM ET US:FOMC Minutes 2:00 PM ET

traderdan59

Every sector closed positive yesterday, maybe it is time to be cautious. Any test of ETH session High could provide direction for the day. Level to watch 4082 --- 4080 Report to watch: US: EIA Natural Gas Report 10:30 AM ET

traderdan59

ETH session market has been trading sideways, given today is Federal Reserve's decision day for rate change or not. Any surprise will shake traders confidence. Any test of Yesterday's High could provide direction for the day. Level to watch 4038 --- 4036 Report to watch: US:EIA Petroleum Status Report 10:30 AM ET US:FOMC Announcement 2:00 PM ET ...

traderdan59

Yesterday's sell off seems very dubious. Any test of ETH session Low could provide direction for the day. Level to watch 3879 --- 3877 Reports to watch : US:Business Inventories 10:00 AM ET US:Housing Market Index 10:00 AM ET US:EIA Petroleum Status Report 10:30 AM ET

traderdan59

This week market has tried to bounce but pulled back later on the day during each session. Any test of yesterday's Low could provide direction for the day. Level to watch : 3931 --- 3929 Report to watch : US:EIA Natural Gas Report 10:30 AM ET

traderdan59

Investors sold off yesterday due to fear of reacceleration of inflation and rising interest rate fear. Since S&P closed near its low yesterday, we might see same today . Level to watch 4013 --- 4015 Report to watch: 14:00 USD FOMC Meeting Minutes

traderdan59

We had two days in a row where market fell after trading in a range for few days prior. Any test of yesterday's Low could provide direction for the day. Level to watch 4064 --- 4062 Report to watch : US:Consumer Sentiment 10:00 AM ET

traderdan59

Yesterday's rally after FOMC statement needs to see follow through; otherwise traders could take profit today. Most one day big rallies occur during Bear markets. Level to watch: 4175 --- 4173 Reports to watch: US:Factory Orders 10:00 AM ET US: EIA Natural Gas Report 10:30 AM ET

traderdan59

Lately, market seems to sell off during ETH session than tries to rally during RTH session. Today might be the same. Any test of yesterday's Low could provide direction for the day. Level to watch 3991 ---3989 Report to watch: US:EIA Petroleum Status Report 10:30 AM ET

traderdan59

Two days in a row S&P 500 tried but could not Close above 4000 level. Did market sentiment change, should find out within next few days. Level to watch 3916 --- 3914 Reports to watch: US:EIA Natural Gas Report 10:30 AM ET US:EIA Petroleum Status Report 11:00 AM ET

traderdan59

It seems of late market sells off than rallies without any conviction. Is today going to be different or same. Any test of ETH session High could provide direction. Level to watch 3953 --- 3951 Report to watch: US:EIA Petroleum Status Report 10:30 AM ET