Markets React to Fed’s Forecast Adjustments: E-mini S&P and NQ Face Key Levels

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E-mini S&P (June) / E-mini NQ (June)

S&P, yesterday’s close: Settled at 5729.75, up 60.50

NQ, yesterday’s close: Settled at 19,951.00, up 249.25

The Federal Reserve lowered its GDP forecast to 1.7% from 2.1% and raised its Core PCE inflation forecast from 2.5% to 2.7%. The committee also said it will slow the pace of its balance sheet runoff. The adjustments were to be expected and arguably align with an optimistic view because it sees GDP improving and Core PCE coming down in 2026-2027, signaling a temporary hit aligned with tariffs. This, coupled with a calm demeanor from Fed Chair Powell during his press conference, brought calm over markets amid a time of tremendous uncertainties. At least for a moment, there are slightly less uncertainties and risk-assets responded favorably.

E-mini S&P and E-mini NQ futures ramped ahead of the Fed’s announcement, and after, before coming off the best levels for settlement. The overnight was firm too, but early this morning things turned south. One could blame the traditionally fickle day after the Fed meeting price action, European central bank decisions and jawboning, soft price action in China, and stops below yesterday’s late low. The move now creates major three-star resistance, detailed in our levels below, aligning with yesterday’s settlement. It also lowers our Pivot and point of balance, a pocket in which we must see price action hold at and above through the first hour in order to set up for strength, otherwise leaving the market vulnerable once again, coming in at….

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Futures trading involves a substantial risk of loss and may not be suitable for all investors. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

Blue Line Futures is a member of NFA and is subject to NFA’s regulatory oversight and examinations. However, you should be aware that the NFA does not have regulatory oversight authority over underlying or spot virtual currency products or transactions or virtual currency exchanges, custodians, or markets. Therefore, carefully consider whether such trading is suitable for you considering your financial condition.

With Cyber-attacks on the rise, attacking firms in the healthcare, financial, energy, and other state and global sectors, Blue Line Futures wants you to be safe! Blue Line Futures will never contact you via a third-party application. Blue Line Futures employees use only firm-authorized email addresses and phone numbers. If you are contacted by any person and want to confirm your identity please reach out to us at info@bluelinefutures.com or call us at 312- 278-0500

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