Outlook 08/22: Futures wavered between slight gains and losses overnight with investors largely attuned to the Fed's symposium in Jackson Hole, Wyoming, over the next two days. Philly Fed President Patrick Harker and Dallas Fed President Robert Kaplan will kick off the festivities today, commenting on the world's largest economy, before Fed Chair Jerome Powell takes the stage tomorrow. The ECB is also scheduled to release minutes of its July policy meeting, at which it raised the possibility of further rate cuts, money printing and a reprieve from its penalty charge on bank deposits.
/ESU19 Value: YVAH 2929 YPOC 2926 YVAL 2922 GAP 2930
/ES Plan: Yesterday market closed leaving a bullish imbalance (PBT 2958), but overnight looks bimodal (LIS 2929), moving above yesterday's value, so these're the options for today:
A) If market remains above LIS YVAH 2929 with bullish internals, buy towards ONH 2939 GAP 2951 PBT 2958 and LVN 2963.
B) If market moves below LIS 2929 with bearish internals, sell towards ONL-HVE 2918 HVE 2907 GAP 2898.50 and HVE 2889.
Quotes: “The key to trading success is discipline. If intelligence were the key, there would be a lot more people making money trading.” Victor Sperandeo
Today's Economic Calendar
09:45 PMI Composite Flash
10:00 Leading Indicators
10:30 EIA Natural Gas Inventory
11:00 Kansas City Fed Mfg Survey
04:30 PM Money Supply
04:30 PM Fed Balance Sheet
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