Naturus Trading plan for Sept. 22, 2016 -

ESZ6 Sept. 21, 2016.

Fed kept interest rate unchanged yesterday. At the same time, the Fed Chair still didn’t give a firm decision on the next rate hike schedule. The traders got encouraged and pushed ES back up to the 2157.50 level for closing.

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In the short-term, yesterday’s price action was bullish. The volume was sufficiently high to support a rally. Today ES could continue to move higher up to 2165 -75 zone if overnight trading can hold the price above 2145.50.

Daily PMO indicator has a sign to turn up, but hasn’t crossed above signal line to give a buying signal yet. Slow STO indicator moves back up again.

If ES manages to hold above 2145, price could have a short-term rally again. Buy on dip will be seen today. Therefore, the traders should focus on the long side if there is a decent pullback.

We also have to keep our eyes on 2157.50-59.50, pivot zone. On a failure to break out from this zone, the ES could move back down if 2145.50 fails to hold.