I turn dials and fiddle with knobs to hone in on harmonic rotations
Joined Oct 26, 2011
4,121 Blog Posts

Down The Slip Stream

Nasdaq futures are pro gap down this morning. The action took us to second sigma range and volume, and effectively erased the entire pop from Nonfarm payroll only two sessions back.

The profile was thin, single prints, and created the scene for a fast move. The fact it was traversed overnight may be a positive. This occurred while none of the underlying components were trading. Therefore, it will be the responsibility of the market to balance itself back in line with its components come open.

Perhaps contributing to the selling was Fed’s Williams who, for whatever reason, went on CNBC yesterday evening and said “Every FOMC meeting is on the table for a rate hike.”

Heading into today, the only economic event of note is the Monthly Budget Statement at 2pm.

Yesterday we printed a normal variation down day and closed on session low after briefly taking out Friday’s high in the morning. Heading into today my primary expectation is for buyers to push into this overnight inventory and trade up to 4408. From there I expect supply to come in and us to continue trading lower to work toward 4367.50.

Hypo 2 buyers blow up through 4408 and push us back up to 4433.

Hypo 3 sellers gap-and-go lower, take out 4367.50 early and target 4357.50. Levels:


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  1. UncleBuccs

    Gotta go w/ the flow… How about a little Paul Simon to help us get our Zen on? http://m.youtube.com/watch?v=5_H-LY4Jb2M

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