I turn dials and fiddle with knobs to hone in on harmonic rotations
Joined Oct 26, 2011
3,232 Blog Posts

Strong NASDAQ Cruising into Wednesday; Sustains Highs Through Mid-week

NASDAQ futures are coming into Wednesday flat after an overnight session featuring normal range and volume.  Price was balanced overnight, holding the Tuesday range while essentially marking time.  At 7am MBA mortgage applications came in better than last week.

Also on the economic calendar today we have crude oil inventory at 10:30am.

Yesterday we printed a normal variation up.  It had notes of a subtle double distribution trend up, primarilly because of a strong pre-lunch surge higher.  The move made it up just two-ticks shy of the Exodus strategy session high before ultimately fading into end-of-day.

Heading into today my primary expectation is for buyers to work up through overnight high 5038.25.  From here price continues higher, up to 5050 before two way trade ensues.

Hypo 2 seller work down through overnight low 5023.75 setting up a move to target 5016.50 before two way trade ensues.

Hypo 3 tight range, from 5040 to 5025 in a do nothing kind of drifting day.



Volume profiles, gaps, and measured moves:


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