FOR MONDAY: (3/19) The G-20 finance meeting is Monday and Tuesday, and rhetoric is likely to fly, and news-flow may be more dynamic before FOMC release on Wednesday. Given the recent trade-war rhetoric and tensions with UK and Russia, it would seem that this meeting may be more significant than normal. Still, they usually find a way to keep rhetoric tight and professional.
JUNE E-MINI S & P 500
TRADING RECOMMENDATION: Wait for morning comments.
S & P ANALYSIS FOR MONDAY: (3/19) Key ranges again between 2746.50 and 2765.50 likely if the trade continues to congest before FOMC. Sunday night has the best chance for breaking out but Monday looks lower, and often pre-FOMC pullbacks on Monday are followed by rallies into Wednesday. At the moment we have a bias that the market will go higher into the 23 if it continues to stay above 2740. Key ranges today appear to be 2765.50, and much above 2770 and they will take it sharply higher. Not thinking that 2743 will come out.
CYCLE SYNTHESIS: Higher Sunday; lower Monday; higher into Friday.
