NASDAQ futures are coming into Friday flat after an overnight session featuring normal range and volume. Price worked to a new weekly high overnight before settling into orderly and balanced two-way trade.
The economic calendar is breezy today. At 10am Leading Indicators will drop, and at 1pm Baker Hughes rig count. That’s all the scheduled events–really light economic docket.
Yesterday we printed a double distribution trend up. Two pushes formed the profile–one late in the morning and another in the late afternoon, ramp capital style.
Heading into today my primary expectation is for buyers to work higher, up through overnight high 4837.75 and target 4846.50 before two way trade ensues.
Hypo 2 seller work down through overnight low 4815.75 triggering a sale down to 4800, some back-and-forth, then a secondary wave down to 4768.50 before two way trade ensues.
Hypo 3 strong buyers work up to 4870 before two way trade ensues.
Levels:
Volume profiles, gaps, and measured moves:
If you enjoy the content at iBankCoin, please follow us on Twitter
they may cruise right into a deeply red close….. lol.. ..
This crap is weak (market not your blog)… Just random low quality stocks ripping 2000% and then BK the next day