High Volume Selling Overnight

Good morning, good morning, here we are, another month end.  Michigan is showing early signs of snapping its cold spell after setting an all time snow record in January.  Bravo, mother nature.

We have lower equity index prices overnight, ahead of some important premarket economic numbers.  I have very simple expectations for today, and should they occur, I will ride into the weekend full long, malted liquor in hand.  My expectation on the day is for a higher lower verses Wednesday.  If higher low, then press, else begin reducing exposure.  This last sentence is much like how I communicate with robots.

We are currently set to open out of value, out of range in the NASDAQ futures which printed over 40 handles of range on above average volume.  This creates a high risk/high reward environment which fits well into the context of our road map.

The month end framework fits well into our road map, too, because often you hear bears groan about “afternoon markup” on the last day.  A late day rally would put a bow on everything we have mapped out this week.

There is no decisive balance overnight, but value never managed to follow price down and is still set at 3510 on the overnight profile.

Price is coiling ahead of our 8:30am information leading me to believe the market finds the news to be important and is waiting before making its next move, thus some of what I write now may become void.

Thus, I will offer out my finest price levels, for your viewing pleasure, on the following intermediate term composite chart: