Data released on Tuesday reveals that Economic Optimism rose but is still in negative territory as Wholesale Inventories rose, as shown on the graphs below. Consumer optimism has rarely been above zero since 2007.
As I'm writing this, market reaction, thus far, has been very negative, as shown on the 4-Hour charts below of YM, ES, NQ & TF. Price is currently trading at/near External Fibonacci retracement levels...whether they will stop there today remains to be seen.
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Winter in City
UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Wed. Feb. 1 @ 2:00 pm ET - FOMC Rate Announcement + Forecasts and @ 2:30 pm ET - Fed Chair Press Conference
* Fri. Feb. 3 @ 8:30 am ET - Employment Data
* Wed. Feb. 22, 2023 @ 2:00 pm ET - FOMC Meeting Minutes
* Wed. Mar. 8 @ 2:00 pm ET - Beige Book Report
* Wed. Mar. 22 @ 2:00 pm ET - FOMC Rate Announcement + Forecasts and @ 2:30 pm ET - Fed Chair Press Conference
*** CLICK HERE for link to Economic Calendars for all upcoming events.