Outlook 08/05

Context: Futures and bond yields move higher after jobs numbers. With a September rate hike seemingly much more of a possibility, the 10-year Treasury yield has jumped four basis points and Fed Funds futures are still pricing in just about a 50% chance of one rate hike this year.

Plan: Globex is balanced, moving above value within 2139-2171 range. It seems an open auction, so first idea is to be a buyer above VAH 2161 towards ATH 2177.75 Remember ATH was made overnight so don’t expect it to hold as the high of this move, stats don’t support that. If that idea fails, I become a seller towards VPOC 2153.75

Value References (/ESU6): VAH 2161.25 POC 2159.75 VAL 2157.75

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.