Outlook 08/22

Context: Futures were lower following a broad drop in Asia overnight. A decline in the euro versus dollar amid speculation about when the Fed will raise interest rates had apparently boosted exporters earlier in Europe. Vice-Chairman Stanley Fischer did nothing to dispel the feeling in a speech yesterday that the Fed will increase rates sooner rather than later as he gave an upbeat assessment about the economy.

Plan: Globex is bearish, moving in value within 2173-2185 range. Fair Value is 2181.50. It seems an open auction, so first idea is to be a seller below LVN 2179.50, using profile setups towards VPOC 2169.50. If that fails, I become a buyer towards GAPs 2181.75-2183.25-2186.25

Value References (/ESU6): VAH 2182.50 POC 2181.50 VAL 2176.50

Economic Data (ET): No data for today.

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.