Outlook 09/22

Context: Futures are heading higher after the Federal Reserve left rates unchanged and lowered its forecasts. The Fed's decision shouldn't be interpreted as a lack of confidence in the economy, Janet Yellen said during her quarterly news conference, but gave a fairly strong indication that a hike will happen before 2016 is over. She also rejected the suggestion that the central bank bases its decisions on partisan politics.

Plan: Globex is bullish, moving above value within 2151-2172. It seems an open test drive, so first idea is to be a buyer above CLVN 2151 towards CLVN 2172 and GAP 2177. If 2151 fails, I become a seller towards POC 2141 and GAP 2131.

Value References (/ESZ6): VAH 2144 POC 2141.50 VAL 2132

Economic Data (ET): 8:30 Initial Jobless Claims, Chicago Fed National Activity Index; 9:00 FHFA House Price Index; 9:45 Bloomberg Consumer Comfort Index; 10:00 Existing Home Sales, Leading Indicators; 10:30 EIA Natural Gas Inventory; 11:00 Kansas City Fed Mfg Survey.

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.