Interpreting market movements in a whole new way
Interpreting market movements in a whole new way
Overnight inventory appears to be net long into and into the Point of Control which sits at 4390.75 off of yesterdays’ RTH session. There is a general fishing for direction right now. The strong underpinning of the market is that there is a lot of capital waiting on the sidelines, waiting for an opportunity to … Continue reading “Emini S&P futures premarket summary”
Read MoreOvernight inventory again today remains net short and the high as of this writing was also the tag of a Fib extension profit target as we see the futures recede from that ON high. At the time of this writing [7:45 am EDT], we see Fib support coming in at 4316.25 and that has more … Continue reading “Emini S&P a look at the overnight price action”
Read MoreI’m thinking the markets are done with reacting with Fed Chair testimonies and begin considering that as a scenery in the rearview mirror. At least the futures price action and support from ON lows will allow us to make that assessment. Sellers still clearly outnumber buyers in the premarket price action as the POC shifts … Continue reading “Emini S&P premarket summary”
Read MoreThe PPI for final demand increased 1.0 percent in June, seasonally adjusted. Final demand prices rose 0.8 percent in May and 0.6 percent in April. The signs of a strengthening economy has boosted futures prices here into the late premarket. Later today we have Chair Powell on the docket and his testimony to the Congressional … Continue reading “Emini S&P futures premarket analysis”
Read MoreThere is participant anxiety here ahead of Q2 earnings and it is justified. Although I believe that we will merely grind up over the course of earnings, the Nasdaq could be approaching a ceiling in its’ run up and that could lead to some consolidation. Looking beyond my opinion which isn’t really worth much, what … Continue reading “Emini S&P futures a review of price action”
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