Outlook 08/09

Context: Futures flat sideways. It's already been about two-and-a-half weeks that markets have traded within a 2% range. Bullish side of the equation: improving earnings momentum, junk bonds holding up and central bank policies. Bearish sentiment: lowest volatility in the past year, slower global growth and U.S. election uncertainty.

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

Value References (/ESU6): VAH 2178 POC 2176 VAL 2174

Economic Data (ET): 10:00 Wholesale Trade.

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.