20 Daily Moving Average – ES E mini S&P500 NQ NASDAQ 100 Premarket Trade Plan – The Pit Day Trading

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RTY, ES and NQ all reverted back to their 20 daily moving averages. We have a news intense week ahead beginning with The Fed Jerome Powell testimony. The ES and NQ are between the upper range and the more recent lower range resting at their 20 daily moving averages. I think the range we trade this week depends if Powell is Dovish or Hawkish. This move from Thursday through Friday was due to Fed Speakers saying .25 bps hike whereas others have said .5 could be warranted. I think Powell will clarify where they are and this will drive the market off the 20 into the upper or lower range.

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