Outlook 10/13

Context: Futures are sharply lower, after a mixed Wednesday on Wall Street put the brakes on Tuesday's big slide. The minutes from the Fed's September meeting showed hawkish policymakers worried about waiting too long to raise interest rates. Markets are also under pressure from Europe to Asia on concerns about a Fed rate hike, weaker China trade data, a retaliatory U.S. cruise missile strike in Yemen, and the various twists and turns of the American presidential race.

Plan: Globex is bearish, moving below value within 2135-2105. It seems an open test drive, so first idea is to be a seller towards GAP 2113 and CLVN 2105. If that fails, I become a buyer towards VAL 2131.25

Value References (/ESZ6): VAH 2136.25 POC 2132.75 VAL 2131.25

Economic Data (ET): 9:45 Bloomberg Consumer Comfort Index; 10:30 EIA Natural Gas Inventory; 11:00 EIA Petroleum Inventories; 12:15 PM Fed's Harker: Economic Outlook.

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.