Outlook 07/27: U.S. stock futures look balanced after GDP numbers. In the second quarter, the U.S. economy grew at an annualized rate of 4.1%, almost double the 2.2% growth rate seen to start the year. This marks the fastest pace of growth for the U.S. economy in any quarter since the third quarter of 2014. This rate of growth, however, was less than 4.2% forecasted by economists.
/ESU8 Value: YVAH 2842 YPOC 2839 YVAL 2836
/ES Plan: Yesterday closed balanced and overnight continues on the same way, moving a few ticks above yesterday's value, so we've these options:
A) If market remains above YVAH 2842 with bullish internals, become a buyer above 2842-41 towards ONH 2847 YHOD 2850 and ATH 2878.50 'Look below and fail' is a bullish signal.
B) If market starts to move below YVAH 2842 with bearish internals, try to sell leaning on 2842-41 towards ONL 2839 and LVN-SoC 2831. 'Look above and fail' is a bearish 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 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.
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