Outlook 08/15: U.S. retail sales rose more than expected in July as households boosted purchases of motor vehicles and clothing, suggesting the economy remained strong early in the third quarter.
/ESU8 Value: YVAH 2843 YPOC 2841 YVAL 2835
/ES Plan: Yesterday market closed bullish (PBT 2852) but overnight looks bearish (GBT 2809), moving below yesterday's range, so we've these options:
A) If market remains below YLOD 2827 with bearish internals, try to sell leaning on 2827 towards ONL 2821 HVE 2819 PBT 2809 and LIS 2800. 'Look below and fail' is a bullish signal.
B) If market starts to move above YLOD 2827 with bullish internals, become a buyer above 2827 towards YVAL 2835 GAP 2841.25 and ONH 2843. 'Look above and fail' is a bearish signal.
Tips: Summer time. Trade the first 2 hours for liquidity. Avoid to force trades after European close, when volume dries up like yesterday. Otherwise, just wait for US Bonds close (3PM ET) and then look for more liquidity near the NYSE closing bell (4PM ET).
Today's Economic Calendar
10:00 Atlanta Fed's Business Inflation Expectations
10:00 Business Inventories
10:00 NAHB Housing Market Index
10:30 EIA Petroleum Inventories
04:00 PM Treasury International Capital
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.
