Outlook 09/29

Context: Futures were drifting this morning, following Wednesday's energy-driven rally on a deal from OPEC members to limit production. Crude this morning was giving back a bit of Wednesday's advance on the OPEC deal. Goldman Sachs said the agreement may provide short-term support, but it won't likely change the supply outlook much.

Plan: Globex is balanced, moving in value within 2151-2172. It seems an open auction, so first idea is to be a buyer above CLVN-POC 2151-2148 towards GAP 2168.25 If that fails, I become a seller towards GAP 2131.

Value References (/ESZ6): VAH 2160.50 POC 2148.50 VAL 2144.50

Economic Data (ET): 10:00 Fed's Powell, Pending Home Sales; 10:30 Natural Gas; 4:00pm Fed's Chair Yellen.

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.