Outlook 06/17

Context: Brexit campaign on hold after lawmaker shot dead. EU campaigning has been suspended in the U.K. following the murder of Labour MP Jo Cox, a strong advocate for voting to 'stay' in next week's referendum. She was reportedly killed by Thomas Mair, who shouted "Britain first" before the attack. According to analysts, Cox's death may change the psychology of the campaign and sway public opinion towards the safety of a unified economic bloc. Markets seem to believe that too. The pound is up, while world equities are trading higher.

Yesterday closed bullish imbalanced. Globex is bearish towards 2059 (GBT), moving in value within 2081-2061 auction range.

Plan: It seems an open auction in range so first idea is to be a seller around POC-VAH 2070-2071.50 towards GBT 2059 VAL 2049. If this first idea fails, I become a buyer towards LVN 2075 and CLVN 2081.

Value References (/ESU6): VAH 2071.50 POC 2069.5 VAL 2049

Economic Data (ET): 8:30 Housing Starts; 10:00 Atlanta Fed's Business Inflation Expectations; 1:00 PM Baker-Hughes Rig Count.

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.