NASDAQ futures are coming into Thursday flat after an overnight session featuring elevated range and volume. Price pushed lower during extended trade, tagging the 6200 century mark before discovering a strong responsive bid. At 8:30am Initial/Continuing jobless claims data came out better than expected.
Also on the economic docket today we have President Trump declaring the new head of the Federal Reserve at 3pm.
We will solemnly miss Janet Yellen and the incredible stock market she has championed 🙁
Yesterday we printed a normal variation down. The day began gap up and we slowly faded lower all day, closing the open gap left behind Tuesday morning nearly to the tick before two-way trade ensued.
Heading into today my primary expectation is for buyers to work higher, up to 6262.50 before two way trade ensues.
Hypo 2 buyers work up to 6284.50 before two way trade ensues.
Hypo 3 sellers press down to 6181.50 before two way trade ensues.
Levels:
Volume profiles, gaps, and measured moves:
