Outlook 07/22: U.S. stock index futures are inching up 0.3%, with rate bettors only relying on economic data for the next 10 days before a crucial FOMC meeting on July 30-31. Earnings will still be a catalyst for market movement this week, with a big run of quarterly results led by tech companies and industrial names. Set to report are Amazon, Google and Facebook, as well as Boeing, Caterpillar, and United Technologies.
/ESU19 Value: YVAH 3008 YPOC 3000 YVAL 2992 GAP 2977.25
/ES Plan: Last session market closed bearish but the week auction starts more bullish, moving below Friday's value, so these're today's options:
A) If market remains above LIS 2984 with bullish internals, buy towards ONH 2988.25 YVAL 2992 YPOC 3000 and HVE 3006.
B) If market moves below 2984 with bearish internals, sell towards GAP 2977.25 ONL 2972.50 HVEs 2970-62 and GAP 2954.
Tips: Watching at the bigger picture, HVE 2962 is a key level to avoid a major sell-off towards lower value (Value Transition). HVE 2962 is the lower edge of higher balance range of acceptance.
Today's Economic Calendar
No economic data scheduled for today
Questions via @verniman direct message (RTH) or email (After Close).
Glossary of terms
