Interpreting market movements in a whole new way
Interpreting market movements in a whole new way
The ON high took us close to 30 points above Friday’s settlement and stalled as the ticker recorded no buys above 4419. Again, valuation from the break lower this past Friday remains intact as we stalled below 4385 and which will likely provide support to the markets during the day session here on Monday. Of … Continue reading “Premarket summary for S&P futures”
Read MoreSlower growth is expected in coming months, with Delta variant of Covid-19 and materials and labor disruptions clouding economic outlook. U.S. gross domestic product grew at a 6.5% annual rate in the second quarter, up slightly from earlier in the year, pushing the economy’s size beyond its pre-pandemic level. The growth came as business reopenings … Continue reading “Emini S&P futures premarket summary”
Read MoreOvernight inventory appears to be net long into and into the Point of Control which sits at 4390.75 off of yesterdays’ RTH session. There is a general fishing for direction right now. The strong underpinning of the market is that there is a lot of capital waiting on the sidelines, waiting for an opportunity to … Continue reading “Emini S&P futures premarket summary”
Read MoreOvernight inventory again today remains net short and the high as of this writing was also the tag of a Fib extension profit target as we see the futures recede from that ON high. At the time of this writing [7:45 am EDT], we see Fib support coming in at 4316.25 and that has more … Continue reading “Emini S&P a look at the overnight price action”
Read MoreI’m thinking the markets are done with reacting with Fed Chair testimonies and begin considering that as a scenery in the rearview mirror. At least the futures price action and support from ON lows will allow us to make that assessment. Sellers still clearly outnumber buyers in the premarket price action as the POC shifts … Continue reading “Emini S&P premarket summary”
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