Outlook 07/28

Context: Markets are marginally in the red after FOMC. Treasury yields have fallen and gold has risen, not what one might expect if expecting a September hike in short-term rates. Federal Reserve acknowledged an improving economy at its July meeting, but gave no insight into when it might hike rates, leaving markets guessing about when monetary policy tightening will resume.

Plan: Globex is balanced, moving in value within 2151-2170 auction range. It seems an open auction, so first idea is to be a seller below VAH 2163.50 towards CLVN 2151. If that fails, I become a buyer towards ATH 2172.50

Value References (/ESU6): VAH 2163.50 POC 2161 VAL 2156.50

Economic Data (ET): 9:45 Bloomberg Consumer Comfort Index; 10:30 EIA Natural Gas Inventory; 11:00 Kansas City Fed Mfg Survey.

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.