NASDAQ futures are coming into Wednesday gap up after an overnight session featuring elevated range on normal volume—a trait unseen in globex for many months. Price was balanced overnight, briefly taking out Tuesday’s high before settling into balance.
The economic calendar is light today—crude oil inventories at 10:30am and Fed Beige book at 2pm.
Yesterday we printed a trend up. The day began with a gap up and and out of range which led to a gap-and-go higher. The rest of the session was spent auctioning higher, offering little in the way of a pullback.
Trend day.
Heading into today my primary expectation is for sellers to work into the overnight inventory and close the gap down to 6828.50. From here we cotninue lower, poking down below overnight low 6816.50 before two way trade ensues.
Hypo 2 stronger sellers trade us down to 6809.75 before two way trade.
Hypo 3 buyers work up through overnight high 6858.25 setting up a move to target the open gap at 6883.75 before two way trade ensues.
Levels:
Volume profiles, gaps, and measured moves:
Great stuff
Thanks
yeah baby,
was in @.03$ and out at $.10, not bad for a weeks work on the beach lawn chair drinking 4loko and my gold teetfh
fly stop hodlen,
keep like five minutes than dump that ho like a complaining bitch