Interpreting market movements in a whole new way
Interpreting market movements in a whole new way
In the opposing measured move scenarios posted with the playbooks yesterday for subscribers, futures elected to hold the drop lower just below the POC at 4293.25 while finding support off the opposing long entry and just riding it higher past the European open which ironically did not short US futures heavily in the ON session … Continue reading “Emini S&P futures market profile summary”
Read MoreIt is safest to merely ignore the price action in the abbreviated session for equity index futures that occurred between the Sunday 6 pm open and the 1 pm Monday close. There are several “Poor lows” in the structure of the Emini S&P from the past 15-odd days. Momentum trading participants have simply squeezed this … Continue reading “Post holiday reading of Emini S&P futures”
Read MoreAs mentioned in yesterdays’ premarket analysis, the grind higher past the settlement yesterday led to futures taking out the 4300-price handle and top out at 4305.75. Initial Jobless Claims for June 25th 364,000 thousand vs 390,000 thousand consensus estimate. The prior reading was 411,000 thousand so the signs of an economy returning to work after … Continue reading “Premarket summary for July 1, 2021”
Read MoreLast day of the month and quarter and ironically not much to talk about as money managers indulge in their customary window dressing which should move some sectors up favorably and the other poorly. We also has the OPEC+ meeting tomorrow which should either curtail rising Crude Oil prices or drop them in the event … Continue reading “Last day of month and quarter – market profile reading”
Read MoreBuyers outnumbered sellers in the overnight price action and into the ON low [4271.75] as of 7:45 am this morning. Participation reverses with sellers jumping in on moves above 4280 which tells me it is going to be another range bound day today and the only way there is going to be some range expansion … Continue reading “Premarket summary of the broad markets”
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