NASDAQ futures are coming into Thursday with a slight gap up after an overnight session featuring normal range on elevated volume. Price was balanced overnight before starting to slowly work higher this morning. At 8:30am both PCE core and initial/continuing jobless claims data came out better-than-expected.
Also on the economic calendar today we have pending home sales at 10am and crude oil inventories at 11am.
Yesterday we printed a normal variation up. The day began with a slight gap up and choppy trade which served to fill the overnight gap. Then buyers stepped in and made a light push to range extension up before we drifted into the close.
Heading into today my primary expectation is for sellers to work into the overnight inventory and close the gap down to 6988.25. Then we work higher, up through overnight high 7003.50 continue higher to target 7023.25 before two way trade ensues.
Hypo 2 stronger buyers work up up to 7032.75 before two way trade ensues.
Hypo 3 sellers work gap fill down to 6988.25 then continue lower, down through overnight low 6970.50 setting up a move to target 6954.75 before two way trade ensues.
Levels:
Volume profiles, gaps, and measured moves:
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You shall not pass!!
Gap reference lol
so have you been selling all week , like you said ? or not ?
I feel like you have a hard time keeping up. Model updates weekly, came into this week bullish http://ibankcoin.com/raul3/2018/05/28/models-flip-bullish-ahead-of-proposal-to-modify-volcker-rule-and-the-rebuilding-of-americas-urban-centers/
“Heading into today my primary expectation is for sellers to work into the overnight inventory and close the gap down to 6988.25. Then we work higher, up through overnight high 7003.50 continue higher to target 7023.25 before two way trade ensues.”
…..nq_f HOD was 7023.50 I was off by one tick thanks
mm I come here for amusing myself only .. not on your daily/weekly coinflip ( btw you have been bearish all through consolidation .. not a problem with that, very good contrarian .)
” I prefer being in my quiet little corner of the internet, misunderstood by most” ( no .. you been good contrarian 🙂 quite realiable )”
” and left alone to make money “( wonder how ..you still trade on volume profile while the trade is been always not-based on standard volume profile and elementary/nursery push-and-pulls , lately more then ever in the past .. but… I see sometimes the chart can fill the gap ..ok ok)
” It took me many years to realize attention has the dangerous ability to cut right to my ego ” ( mm now this is reassuring.. )
”
The models are bearish into the last full week of May. Therefore I will be selling IN MAY.
So it is written, so it shall be.
RAUL SANTOS, May 20th, 2018″
” the week was this , that week was that , ”
ok..
” I’ll be off by a tick sometimes ”
sounds good..dont know what “thanks” stands for in this context.. but ok ..
I’m coming back for more
these final quotes are things I have never said
or written
anyhow, if you’ve found value in my work, even as a contrarian of it, then I am happy, thanks for stopping by and good luck to you
of course I was anticipating your “possible” eventual quotes . doesnt need iq for understanding that . take care