NASDAQ futures are coming into Thursday gap up after an overnight session featuring elevated range on extreme volume. Price poked below the Wednesday cash low before settling into balance. At 8:30am initial/continuing jobless claims data came out better-than-expected.
Also on the economic docket today we have NAHB housing market index at 10am and TIC flows at 4pm.
Yesterday we printed a normal variation down. The day began gap up, sellers closed the gap then continued lower, down through overnight low before two way trade ensued.
Heading into today my primary expectation is for sellers to work into the overnight inventory and close the gap down to 7058. From here we continue lower, down through overnight low 7027.25. Look for buyers ahead of 7000 and two way trade to ensue.
Hypo 2 buyers gap-and-go up through overnight high 7077 and trade up to tag the NVPOC at 7128.50 before two way trade ensues.
Hypo 3 full-on-liquidation lower. Price sustains below 7000 setting up a move down to 6970.50.
Levels:
Volume profiles, gaps, and measured moves:
made a few k yesterday on coins,
btc indicators picked up the motion down and was able to move to tether, watch the downward movement and bought btc before heading to sleep,
made out like a madman