S&P 500 Futures Daily Insights for Tue 14 Mar 2023
No Man's Land
GDR Model Insights for the Current Week
S&P 500 Futures Market Profile Insights for Today
Near-Term Outlook: Undecided Market in between Balance Zones
The key take away from yesterday’s trading is that the market is currently undecided as the ES rejected both the Upper and Lower Balance Zones multiple times over the course of the day, leaving Excess on both the High and the Low. Treat today as Short-Term Balance with edges on yesterday’s High and Low.
In the very short-term, the Overnight Low is extremely mechanical with traders selling exactly at 3912 repeatedly during both the Asian and European sessions. This is Bullish.
On the other hand, the current Swing Low was made during yesterday’s Overnight session. This is Bearish.
This is one of those times when traders are likely better off waiting for the market to decide on direction, or at the very least, reducing size given the increased ranges.
Potential Market-Moving Events Today
08:30am - CPI
05:20pm - FOMC Member Bowman Speaks