Outlook 07/08

Context: Jobs report smashes expectations. The U.S. economy adds 287K jobs in June, UE rate at 4.9%. Private payrolls came in 265K vs. 170K consensus. The participate rate was 62.7% vs. 62.6% prior. Average hourly earnings increased +0.1% vs +0.2% expected. The average workweek was 34.4 hours to match the consensus estimate and prior mark. May's nonfarm payrolls number was lowered to 11K from 38K.

Plan: Globex is balanced (bimodal), moving above value within 2105-2134 range. It seems an open test drive so first idea is to be a buyer using RTH setups towards GAPs 2114.5 and 2118.25 If that fails, I become a seller towards VAH 2095 GAP 2092 and POC 2090.50

Value References (/ESU6): VAH 2095 POC 2090.50 VAL 2082

Economic Data (ET): 1:00 PM Baker-Hughes; 3:00 PM Consumer Credit.

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.