Interpreting market movements in a whole new way
Interpreting market movements in a whole new way
The PPI for final demand increased 1.0 percent in June, seasonally adjusted. Final demand prices rose 0.8 percent in May and 0.6 percent in April. The signs of a strengthening economy has boosted futures prices here into the late premarket. Later today we have Chair Powell on the docket and his testimony to the Congressional … Continue reading “Emini S&P futures premarket analysis”
Read MoreThere is participant anxiety here ahead of Q2 earnings and it is justified. Although I believe that we will merely grind up over the course of earnings, the Nasdaq could be approaching a ceiling in its’ run up and that could lead to some consolidation. Looking beyond my opinion which isn’t really worth much, what … Continue reading “Emini S&P futures a review of price action”
Read MoreIn the opposing measured move scenarios posted with the playbooks yesterday for subscribers, futures elected to hold the drop lower just below the POC at 4293.25 while finding support off the opposing long entry and just riding it higher past the European open which ironically did not short US futures heavily in the ON session … Continue reading “Emini S&P futures market profile summary”
Read MoreIt is safest to merely ignore the price action in the abbreviated session for equity index futures that occurred between the Sunday 6 pm open and the 1 pm Monday close. There are several “Poor lows” in the structure of the Emini S&P from the past 15-odd days. Momentum trading participants have simply squeezed this … Continue reading “Post holiday reading of Emini S&P futures”
Read MoreAs mentioned in yesterdays’ premarket analysis, the grind higher past the settlement yesterday led to futures taking out the 4300-price handle and top out at 4305.75. Initial Jobless Claims for June 25th 364,000 thousand vs 390,000 thousand consensus estimate. The prior reading was 411,000 thousand so the signs of an economy returning to work after … Continue reading “Premarket summary for July 1, 2021”
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