Outlook 07/03: Today, the biggest economic news will be the June report on auto sales, which is expected to show that sales during the month hit an annualized rate of 17 million vehicles. The May report on factory orders is also set for release in the morning. Don't forget that Today will be a half-day in the US equity market, with NYSE closing trading at 1PM ET. Bonds markets will also be closing at 2PM ET.
/ESU8 Value: YVAH 2720 YPOC 2712 YVAL 2704
/ES Plan: Yesterday market closed bullish and overnight shows a bimodal profile (LIS 2735), moving above Friday's range, so we've these options:
A) If market remains above LVN 2735 with bullish internals, become a buyer above 2735 towards HOD 2741.50 LVN 2745 and HVE 2754. 'Look below and fail' is a bullish signal.
B) If market starts to move below LVN 2735 with bearish internals, try to sell leaning on 2735 towards GAP 2727.25 and ONL 2720.50. 'Look above and fail' is a bearish signal.
Today's Economic Calendar
10:00 Factory Orders
01:00 PM NYSE close
02:00 PM Bonds close
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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