- Index futures are trading flat this morning, indicating a sideways start to today's trading session.
- Tensions in Iraq continue.
- Tensions in Russia and Ukraine continue.
QUOTE OF THE DAY
"The awareness of our own strength makes us modest."
- MBA Mortgage Index
- Core CPI
- Current Account Balance
- NAHB Housing Market Index
- Crude Inventories
- FOMC Rate Decision
|Crude Oil 60 Minute|
- This morning I am watching crude oil trade lower out of supply around the highs of its wedge. I am looking for price to push lower back to demand and its EMA around 92.75. I am looking for price to first test the daily pivot and VAL. I am going to be looking to short price today, but I am also going to be aware of the inventories number at 10:30am EST.
|E-Mini Russell 60 Minute|
- This morning I am watching the Russell trade very sideways ahead of the FOMC rate decision. I am looking for price to move above or below the range and test supply or demand on both sides. Ideally, I am looking for a push lower to demand and then a big push higher back to the wedge highs. I am going to be staying out of this one until I see a trend define itself.