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Tuesday, June 19th

On the economic calendar:-

FOMC Meeting begins

07:56 ICSC-Goldman Store Sales

08:30 Housing Starts (Consensus 0.720 M  - Prior 0.717 M)

08:55 Redbook

10:15 Fed Outright Treasury Coupon Purchases up to $2.0 billion

11:30 4 Week Bill Auction

Futures prices remained relatively steady overnight, with a high of 150’07 and a low at 149’23. Yesterday’s settlement close was at 149’22. The 30 minute trend chart remains bullish, and requires a close below 149’18 to turn bearish.

While the 30 minute chart remains bullish, yesterday’s high of 150’10 is is the first resistance level. If broken, 150’15 is the next target level, before 150’21 (settlement gap) and 151’08.

Should we turn down, we could expect some fib support at 149’11 (50%), 149’03 (61.8%) and then 148’25. Price support comes in at 147’19.