Outlook 08/08

Context: Futures are higher heading into today's open after a strong day was recorded in Asia. There is an increasing risk that the U.S. economy has become trapped in a prolonged period of subdued growth that requires lower official rates than were previously expected, according to Fed Governor Jerome Powell after Jobs report.

Plan: Globex is balanced, moving above value within 2139-2178 range. It seems an open auction, so first idea is to be a buyer above VAH 2178 towards ATH 2183 and PBT 2185. If VAH 2178 fails, I become a seller towards VAL 2174 and GAP 2159.

Value References (/ESU6): VAH 2178 POC 2177 VAL 2174

Economic Data (ET): 10:00 Labor market condition index; 12:30 PM TD Ameritrade IMX.

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.