NASDAQ futures are coming into Monday down about -50 after an overnight session featuring elevated volume on extreme range. Price worked lower overnight, slowly and methodically.
On the economic agenda today we have construction spending at 10am, ISM manufacturing/employment at 10am, and both 3- and 6-month T-bills being auctioned at 11:30am.
Last week started gap up. Gap was filled then a strong bid drove us higher for rest of Monday. Tuesday was gap up then trend day down. Wednesday consolidated on low-end of Tuesday trend. Thursday rallied, then faded at end of day. The last week performance of each major index is shown below:
Heading into today my primary expectation is for buyers to work into the overnight inventory and close the gap up to 6570.50. From here we continue higher, up through overnight high 6588.50. Look for sellers around 6600 and two way trade to ensue.
Hypo 2 stronger buyers take us up to 6638.50 before two way trade ensues.
Hypo 3 sellers work down through overnight low 6527.25 and tag 6479.50 before two way trade ensues.
Levels:
Volume profiles, gaps, and measured moves:
It’s good no one reads this drivel
not made for most, and yes ive been wrong today, thanks for stopping by
today.. are you joking .. or something..you’ve been wrong with constitence and a good confidence too .. please ..this site has fall off the cliff some long time ago .. dont see reasons to add lies on
I’ve been wrong with consistence and good confidence is one of the most accurate compliments I have ever received. I am consistently wrong about 38% of the time. Life is good.
While this is not the iBankCoin of yester-years, I agree, I have no reason to lie. I just do my job, consistently, like you said.