The overnight futures session was pretty tame, ES stayed in about a 6 point range.
Here's what the charts look like right now...
These are both 15 min charts...
This is kind of a graphic of the accumulation we saw late Tuesday that effected trade in the S&P yesterday, there was distribution, but there seems to still be enough accumulation in place short term to make another volatile run, I suspect we will see one more higher high (higher than yesterday) before we are ready to drop based on this and what I showed you last night.
NASDAQ Futures look like they have a little more accumulation now than they did, they looked bad on Tuesday and got hammered yesterday, but one thing I mentioned last night was the chance of sector rotation between Tech which was hammered led by AAPL yesterday and Financials which made a new local high, perhaps these two flip-flop today.
Euro-Dollar
The drop in the Euro from above $1.31 also lost momentum overnight, but it's still below $1.31
I'll be out for about an hour getting my blood done this morning just before 10 a.m., hopefully less, so I shouldn't miss much other than the deceptive a.m. trade. I will be watching the market from my wireless so if I see anything I'll post it, there just won't be charts.
Is interest rates about to start going up?
-
Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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