Outlook 06/15: The economics schedule will have key data to close out the week, with the University of Michigan's preliminary reading on consumer sentiment in June. The University of Michigan's report is expected to show a slight increase in the gauge of consumer sentiment from May's final reading.
/ESU8 Value: YVAH 2790 YPOC 2789 YVAL 2785
/ES Plan: Yesterday market closed balanced. Overnight profile is bearish (GBT 2766), moving below yesterday's range, so we've these options:
A) If market remains below YLOD 2781 with bearish internals, become a seller leaning on 2781-2779 towards ONL 2772 and GBT 2766. 'Look above and fail' is a bearish signal.
B) If market starts to move above YLOD 2781 with bullish internals, become a buyer around 2781 towards YVAH 2785 and ONH-GAP 2788-89. 'Look below and fail' is a bullish signal.
Tips: Today is Quadruple Witching, enough reason to be very cautious. Usual strategies are most likely to be less effective.
Today's Economic Calendar
10:00 Consumer Sentiment
01:00 PM Baker-Hughes Rig Count
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
Questions? Just ask via email or twitter @verniman direct message.
