Outlook 07/31: Stock futures look balanced on Tuesday as The Federal Reserve kicks off its two-day Federal Open Market Committee meeting. If there's any news, we'll get it on Wednesday at 2:00 p.m. ET when the Fed publishes its statement. Until then, all eyes will be on Apple (AAPL), which announces quarterly earnings after the closing bell.
/ESU8 Value: YVAH 2813 YPOC 2803.25 YVAL 2801
/ES Plan: Yesterday market closed bearish (PBT 2790) and overnight looks balanced, moving within Yesterday's value, so we've these options:
A) If market remains below YVAH 2813 with bearish internals, try to sell leaning on 2813 towards GAP 2803.25 YVAL 2801 and PBT 2790. 'Look above and fail' is a bearish signal.
B) If market starts to move above HVE 2813 with bullish internals, become a buyer above 2813 towards HVE 2819 HVE 2828 and HVE 2838. '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
09:45 Chicago PMI
10:00 Consumer Confidence
10:00 State Street Investor Confidence Index
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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