This week is full of economic reports and market events.
The Consumer Price Index (CPI) report will be released on Tuesday at 8:30 a.m. Eastern. Wednesday is the FOMC announcement at 2 p.m. Eastern, followed by Jerome Powell speaking at 2:30 p.m. On Thursday, both Jobless Claims and Retail sales release at 8:30 a.m. Eastern. The last report on Friday is the Purchasing Managers’ Index (PMI), releasing at 9:45 a.m. Eastern.
This week’s other market events are S & P Rebalancing, Triple Witching, and SPX roll. Approach the week cautiously, and be aware of putting too much risk during a very volatile week.
To start the week, the S&P 500 (/ES) is breaking our structure towards $3,981. Let’s see if the market can reach the top of our zone at $4,019 or break down to the Point of Control (POC) at $3,938.
Check out the video above to get a breakdown of my critical levels and possible scenarios on /ES as it breaks through structure.
Stay Focused!