Outlook 07/30: Stock futures look bullish on Monday as a busy week of central bank meetings and company updates started. In the coming days, monetary policy meetings will take place across the U.S., Japan, the U.K., Brazil and India. While the BOJ will be eyed for tweaks to its massive asset-buying program and the BOE is expected to raise rates for the first time since November, the U.S. FED is unlikely to deliver any surprises. 145 members of SP500 will report earnings in the week ahead.
/ESU8 Value: YVAH 2828 YPOC 2818 YVAL 2809
/ES Plan: On Friday market closed bearish (PBT 2790) but overnight shows some bounce (GBT 2824), moving within Friday's value, so we've these options:
A) If market remains below HVE 2819 with bearish internals, try to sell leaning on 2819-2818 towards YVAL 2809 ONL 2806 and LIS 2800. 'Look above and fail' is a bearish signal.
B) If market starts to move above HVE 2819 with bullish internals, become a buyer above 2819-2818 towards GBT 2824 and YVAH 2828. 'Look below and fail' is a bullish signal.
Tips: Consider the habits of the product you trade, such as '10 Handle Rule' 'Value Area Rule' and 'One Tick Failure'. More info on Glossary.
Today's Economic Calendar
10:00 Pending Home Sales
10:30 Dallas Fed Manufacturing Survey
03:00 PM Farm Prices
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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