E-Mini S&P 500 Futures
Anticipating the regular range-bound price action ahead of the FOMC Announcement at 1:00 PM (CT). Although ES filled the gap and closed on a bullish note, the Russel (TF) and Nasdaq-100 (NQ) were unable to close their gaps from Friday, which could be viewed as a warning sign since the Russel has been leading the way on this extended up move. My Bull/Bear Line in Sand for tomorrow is 1138. Below 1138, I believe we could break through the 1134-36 Low Volume Area and test the 1131-1132 area. Btw, the reaction to FOMC Announcements typically consists of fast two-sided moves (whipsaw), so if you're risk averse, it's probably best to sit out 20-30 minutes following the announcement. Trade well!
Housing Starts and Import and Export Prices at 7:30 AM (CT), Redbook at 7:55 AM (CT), and FOMC Meeting Announcement at 1:00 PM (CT).
ES - Daily Chart with Volume Profile and Key Levels