A.M. Observations

Good morning.

Well, what can I say this morning that wasn't already said last night or that we hadn't already prepared for by Thursday of last week? I'm almost surprised by how brazen the invisible hand is now, so much so it really can't be called the "Invisible Hand" when it does things like a 10k block in ES contracts in thin overnight volume, I could only think of one reason to do that as I said last night, to accumulate during the rest of the long overnight session and here we are from an ES closing 4 p.m. print of 1768.50 to a 10 p.m. overnight low of 1754 to 1779.50.

Other than that, the Empire F_E_D missed consensus for the 5th consecutive time at .98 vs exp. 5.0. While margins were better due to falling input costs and higher prices received, the employee workweek saw a major hit from 5.26 to -10.84.

T?here's not much more to say, we're ready for today. I hope you all do well, I'll of course let you know when it's time to let go of those positions.