Outlook 09/23

Context: Fed-fuelled rally that catapulted equities out of the summer doldrums this week is showing some signs of fatigue. Despite the downward movement, there is plenty of Fedspeak on the calendar to keep investors busy for the rest of the day. Fed Presidents Patrick Harker, Loretta Mester and Dennis Lockhart are set to appear on a "Presidents' Perspectives" panel, Neel Kashkari will host a Twitter Q&A and Robert Kaplan will give his post-Fed meeting views in Houston.

Plan: Globex is bearish, moving below value within 2151-2172. It seems an open test drive, so first idea is to be a seller below LVN 2168.50 towards GAP 2156.25 and CLVN 2151. If that fails, I become a buyer towards CLVN 2172 and GAP 2177.50

Value References (/ESZ6): VAH 2171.25 POC 2170.25 VAL 2167.75

Economic Data (ET): 9:45 PMI Manufacturing Index Flash; 10:00 Atlanta Fed's Business Inflation Expectations; 12:20 PM Regional Fed Presidents panel; 12:30 PM Fed's Kaplan; 1:00 PM Baker-Hughes Rig Count.

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.