ES Morning Update February 28th, 2017

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Not much to add this morning gang.  The market is waiting on Trump to speak tonight at 9pm EST, which should cause some reaction in the futures afterwards, but whether that carries into Wednesday morning or not is unknown?  If you remember when he got elected the futures went "limit down" on election night only to have recovered it all by the open the next day.  We could have a repeat of that I guess, as anything is possible in this market (well, except for it to have an equal number of down days as up, as we all know the market is manipulated to the bull side 90% of the time).

Anyway, this 6 hour chart has the MACD's just barely in the positive around the +4 level.  They could turn back up or continue down... no clues there.  Same pattern is on the 60 minute chart as well.  That's all I can add.  Hopefully we'll see some action on Wednesday after the meeting tonight.  Up or down... who knows, but we traders just want to see something other then this slow sideways to slightly up chop everyday.  It's the grind that kills options with time decay.  Gives us 10 and 20 point swings and we'll be happy.