NASDAQ futures are coming into Wednesday gap down after an overnight session featuring extreme range and volume. Price worked significantly lower overnight as Trump became the likely candidate to win President.
On the economic calendar today we have Wholesale Inventories at 10am, Crude Oil inventories at 10:30am, and a 10-year Note auction at 1pm.
Yesterday we printed a choppy normal variation up. Price action was predominantly bullish.
Heading into today my primary expectation is for big chop between 4716 and 4666.
Hypo 2 sellers drive down through 4666 and work towards overnight low 4558.50 before two way trade ensues.
Hypo 3 buyers work up to 4793.75 before two way trade ensues.
Levels:
