Outlook 07/12

Context: S&P 500 has climbed back over a record it set more than a year ago, capping a stop-start recovery that has been one of the most uneven and uncertain in recent memory. The rally, which on Monday took the benchmark past its previous all-time high of 2134 set in May 2015, was derailed at various points by plunging oil prices, currency devaluations in China and most recently the U.K. vote to leave the EU.

Plan: Globex is bullish (GBT2150), moving above value within 2105-ATH. It seems an open test drive so first idea is to be a buyer using setups towards GBT 2150. If that fails, I become a seller towards GAP-VAL 2130.

Value References (/ESU6): VAH 2134.75 POC 2133.75 VAL 2129.75

Economic Data (ET): 10:00 JOLTS and Wholesale Trade.

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.