ES is has been a bucking bronco - Up and down - but not sideways.
50 handles down on the open and end up for the day.
Tough to stay in anything overnight.
However all of this coiling up for a bigger move. Maybe its down - there is enough pessimism that most are feeling short the way to go.
Couple of the things the market rallied on news that McConnell will extend deadline to raise debt ceiling - market rallied.
From that you can deduce that an agreement will be reached - market will rally. Markets often move and later we find out why.
That said there is a point of control from today that lies at 4300 that needs clean up. ES has done an excellent job cleaning these up including today where the POC was 50 points way on open and then went 75 points away from it to tag - yup on the close.
Been a while since we've opened 30-50 handles higher then to sell off on the open. The algos we're stirring things up especially well this afternoon trying to confuse people so outsized move doesn't surprise me.
Market looked strong into the close and isn't breaking yet - gap up and sell off back to the POC is my guess. 4380 then back to 4300 - but to be clear I do not have a crystal ball. Follow the price action!
Comment:
Now 95 points away from yesterdays point of control. Seems like a bit much to return to.
Best I'm hoping for is a return to yesterdays close - short from 95
Best I'm hoping for is a return to yesterdays close - short from 95
Comment:
Boom
High Volume Node reached.
High Volume Node reached.
Those Asians Session buyers must know something. ;P