Outlook 08/18

Context: Near-term economic risks have diminished, according to the minutes of the FOMC's late-July policy meeting, with members noting in particular the quick bounce in markets from the short post-Brexit vote panic. While officials are split on whether a rate hike is needed soon, the door is open for a move this year.

Plan: Globex is balanced, moving in value within 2173-2185 range. It seems an open auction in range, so first idea is to wait for more clues about direction and then play using profile setups towards magnets GAP-POC 2186.25-2189.50 or POC-GAP 2169.50-2159.

Value References (/ESU6): VAH 2177.50 POC 2169.50 VAL 2168.50

Economic Data (ET): 9:45 Bloomberg Consumer Comfort Index; 10:00 Fed's Dudley; 10:00 Leading Indicators; 10:30 EIA Natural Gas Inventor; 4:00 PM Fed's Williams.

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.