Outlook 06/29

Context: Market rally is extending into a second day, with banks leading the charge after the Dow and S&P posted their best day in four months. Speculation is high that policy makers will take steps to limit any economic fallout and mitigate the "damage" of the U.K.'s vote to leave the European Union. A dead cat bounce or are markets slowly moving away from Brexit fears?

Yesterday closed bullish towards 2045. Globex is bullish towards 2059 (GBT), moving above value within 2021-2061 range.

Plan: It seems an open auction out of range so first idea is to be a buyer around LVN 2039 towards GBT 2059 and CLVN 2061 If that fails, I become a seller towards GAP 2028.25 and CLVN 2021.

Value References (/ESU6): VAH 2017.75 POC 2013.75 VAL 2007.75

Economic Data (ET): 10:00 Pending Home Sales; 10:30 EIA Petroleum Inventories; 3:00 Farm Prices.

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.