Outlook 08/02

Context: With earnings continuing to poor in, futures are down 0.15%. The Reserve Bank of Australia cut its benchmark interest rate overnight by 25 basis points to a fresh record low of 1.50% amid signs of slowing economic growth and persistently low inflation. Japanese Prime Minister has approved a $274B stimulus package amid a growing consensus that monetary policy alone won't be able to revive the economy.

Plan: Globex is bearish (GBT 2158), moving in value within 2151-2171 range. It seems an open auction, so first idea is to be a responsive seller below VAL-LVN 2161-2162 towards CHVN 2159 and GBT 2158. If that idea fails, I become a buyer towards GAP-POC-VAH 2164-2166.

Value References (/ESU6): VAH 2166 POC 2164.50 VAL 2161.

Economic Data (ET): No economic data on RTH.

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.