7/26 - FOMC Today

7/26 - FOMC Today

My Bias - Am I Bullish or Bearish on ES?🤔

Thoughts on /ES🤔

FOMC is today. So far, rejecting our 4600/05 zone and holding over 4592 level we have.

Seeing 2 scenarios play out as these both could be completely wrong.

1. a fast dip to 4560 then we reverse and head toward to 4627 and pump.
2. rip to 4627 targets and then heavy sell-off to 4560.

Those key targets are what I am watching for today.

1. Initial Move
2. Inverse move of 1st move
3. Real move next day

Still rejecting to stay above 4600. We could see a pop over 4625 and retrace lower. If we happen to rip higher over 4625, 4703 > 4718 follows.

Below 4560 we could see a pullback to 4530 but if that fails next is 4508. If that fails we can see 4484. Further below, then 4460 and 4420 is lined up for a deep retracement.

“Remember, the market transfers money from the impatient to the patient!”

Want To Learn Volume Profile?

Stocks We Will Be Reviewing

  • FUTURES - /ES & /NQ
  • ETFs - QQQ (tech)
  • VIX - Volatility Index


POC: 4600 / VH: 4608/ VL: 4589


POC: 15700 / VH: 15722 / VL: 15625


POC: 455.94 / VH: 456.68 / VL: 455.17


POC: 379.47 / VH: 380.17 / VL: 378.17


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