Outlook 10/09: Today, Bond markets will re-open giving a catalyst after last week's trading in the equities market was largely driven by rates with Treasury yields across the curve hitting multi-year highs. The benchmark 10-year yield crept up to a fresh seven-year high, advancing past 3.26%, marking an increase of about 80 basis points from the start of 2018. U.S. stock index futures look poised for a fourth day of declines in response, down 0.5%, as traders gear up for $230B of Treasury auctions this week.
/ESZ18 Value: YVAH 2894 YPOC 2891 YVAL 2878
/ES Plan: Yesterday market closed bullish but overnight looks bimodal (LIS 2884), moving within yesterday's value. We're moving into 2884-2864 auction range, so we've these options:
A) If market remains below LIS 2884 with bearish internals, try to sell towards ONL 2874.50 YLOD 2866 and LVN 2864.
B) If market starts to move above 2884 with bullish internals, buy towards ONH-GAP-YVAH 2894 and HVEs 2898-2907-2918.
Tips: Basic setups: 1.Bullish 'p' leaning on MID-VWAP looking for VAH-HOD-PBT. 2.Bearish 'b' leaning on MID-VWAP looking for VAL-LOD-PBT. 3. Balance 'd' breakout leaning on VAH/VAL towards GAPs or ETH PBTs.
Today's Economic Calendar
10:00 Fed's Evans Speech
09:15 PM Fed's Williams Speech
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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Glossary of terms
