Outlook 07/27

Context: Federal Reserve is expected to stand pat at its meeting today, bowing this time to global volatility from U.K.'s Brexit vote after staying on hold since it raised rates in December. Central to the debate at the Fed's policy meeting will be how to reconcile upbeat U.S. economic data, highlighted by strong job gains in June, with a slowdown in global growth and other headwinds threatening the inflation trajectory.

Plan: Globex is slight bullish, moving above value within 2138-2170. It seems an open auction, so first idea is to be a buyer towards ATH 2172.50. If that fails, I become a seller towards POC-GAP 2163.25-2161.

Value References (/ESU6): VAH 2167 POC 2161 VAL 2158.50

Economic Data (ET): 10:00 Pending Home Sales; 10:30 EIA Petroleum Inventories; 2:00 PM FOMC Announcement.

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.