Outlook 06/16

Context: Busy day for Central Banks. Monetary policy decisions, oil prices and Brexit worries are weighing on world shares, as money continues to flow into safe-haven assets. Bank of Japan and National Bank of Switzerland disclosed their monthly rate announcements overnight and the Bank of England is about to take the mic (see below). What happened at yesterday's Fed meeting? The FOMC kept interest rates unchanged, as expected, while downgrading its "dot plot."

Yesterday closed imbalanced towards 2085. Globex is bearish towards 2046 (GBT), moving below value within 2061-2046 auction range.

Plan: It seems an open test drive so first idea is to be a seller around LVN 2058 towards GBT-CLVN 2046. If this first idea fails, I become a buyer towards GAP 2063.25 VAL 2070.50 and POC 2072.

Value References (/ESU6): VAH 2075 POC 2072 VAL 2070.50

Economic Data (ET): 9:45 Bloomberg Consumer Comfort Index; 10:00 NAHB Housing Market Index; 10:30 EIA Natural Gas Inventory.

Notice: Trading process and plan are based on the Auction Theory.

Warning: Trading Futures involves substantial risk of loss and is not suitable for all investors. The past performance is not necessarily indicative of future results. All the information on this website is for educational purposes and is not intended to provide financial advice.