S&P 500 Futures Daily Insights for Wed 15 Mar 2023
Market can turn more Bullish should yesterday's Excess Low hold today
GDR Model Insights for the Current Week
S&P 500 Futures Market Profile Insights for Today
Near-Term Outlook: Potential Acceptance into Upper Balance Zone
The Value Area for yesterday moved higher leaving an Excess Low and a Poor High. In addition, the Lower Balance Zone was rejected while the market seems to be moving towards acceptance of the Balance Zone above. This paints a near-term Bullish picture for the market coming into today.
Taking out yesterday’s Excess Low and accepting below that level would likely negate the Bullish outlook and put the market back to Bearish. Should that happen, bear in mind that the Swing Low from 3/13 is Weak as it was made in the Overnight session.
Potential Market-Moving Events Today
08:30am - PPI, Retail Sales, NY Empire State Manufacturing Index
10:00am - Business Inventories