Pre-FOMC Conditions
7220's Triggered and Channel Sustainment above 7144?
Overview
Good evening,
The conditions ahead of FOMC tomorrow is relatively correlated to ES performance today on our flip date of April 28th. Specific to the calculated ranges of 7144 to 7146.75 and the probability of retesting certain levels. There is a high importance of sustaining above 7171 to 7174 overnight, in order to re-enter the zone above 7188 to 7193.
Wider overhead is seen around 7202 to 7205. They mention the impact of weekly opens and the stalling at 7222 to 7223 on volatility. The pre-FOMC strategy involved testing 7206 to 7208 on the 27th and sustaining core ranges on the 28th. The goal is to retest highs of 7222 to 7223 and potentially reach 7271-7275-7278, with new zone entries as early as this week (7288-7292). There is also core to core confluence near these ranges when analyzed on a much broader range perspective/theory.
