Outlook 09/07

Context: Futures are searching for direction, as investors continue to speculate on what the Fed will do at its meeting this month. While trading has been cautious, the Nasdaq's coming off another all-time closing high, can the Dow and S&P follow Nasdaq to new highs?

Plan: Globex is balanced, moving in value within 2172-2185. Fair Value (FV) 2185. It seems an open auction, so first idea is to be a seller below VAH towards NFP Scene of Crime (SoC) 2165.75 closing GAP and VPOC. If that fails, I become a buyer towards all time highs.

Value References (/ESU6): VAH 2185.75 POC 2181.25 VAL 2177.25

Economic Data (ET): 9:45 PMI Services Index; 10:00 FED speakers, Job Openings and Labor Turnover Survey; 2:00 PM Fed's Beige Book.

Notice: Trading process and plan are based on the Auction Theory.

Warning: Trading Futures invoholds, Ilves 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.