NASDAQ futures are set to come into the week gap up after an overnight session featuring normal range on abnormally low volume. Price managed to push up above last Wednesday’s high briefly before settling back into the day’s range.
At 8:30am we have two big data points, Advance Goods Trade Balance and Personal Consumption Expenditure.
Last week price started the week flat and continued sideways until Tuesday when a gap down found strong responsive buyers. Said buyers were overrun on Wednesday.
Thursday was the last trading day of the holiday shortened week and started gap down. The rest of the session was spent slowly trading higher.
Heading into today my primary expectation is for sellers to work into the overnight inventory and close the gap down to 4397.50. Look for responsive buyers at 4391.50 and two way trade to ensue.
Hypo 2 sellers continue pushing lower, down through 4391.50 setting up a move to target 4377.50 before two way trade ensues.
Hypo 3 buyers defend ahead of the 4400 century market and begin working higher. Price pushes up through overnight high 4425.75 and buyers target the overhead gap at 4435.25 before two way trade ensues.
Levels:
Volume profiles, gaps, and measured moves:
bot some SCTY weekly 23.5s
So that is where that post went…..I came here to say that I miss the daily analysis – hope that you are getting a well deserved break from turning dials…
I also miss the daily analysis. Hope all is well. Hope you are coming back.
if sick, get well.
regards
thanks guys, will be back soon, I’ve been on the road