It will be choppy with the potential for a grind higher into ES Session Close.
Crude can Backtest off the 78.90 Level, with 80 a $1 away, OPEC will work their magic as they are in meeting all week. Leaks should begin appearing shortly.
The VIX must Defend the 22.10/22.15 level. We do have a gap Below on the Daily.
There is a clear compression on the VIX, they are defending another breakup and out for now. 22.45 currently with the VXN upper range @ 28.80, ALL VX bares close observation.
11-11:30AM EST will be a pivotal timeframe today as the FED has provided 3B+ for Squeeze cheese.
10 Year Yields hovering just below 1.50 with 1.545 the breakout.
@HK_L61 HK nice to see you posting during the move. Triple Qs at 315 bring us back to May lows effective canceling entire summer gains. Timeline estimates ? Any
It should come into Trade in the next month or less. We are simply waiting on the Events to unfold.
Fiscal Issues as well as Yield to Sky, too many vectors to count any one disruptor out.
Look at Tesla claiming to ship a record number of cars Delivered.... Complete BS.
And then there's the issue of China not shipping much of anything here, with over 110 ships offshore
while the current admin backtracks on Tariffs and Trade.
We're rolling over and the Globe knows it.
Let's not forget Taiwan, serious conflict to begin there as tensions are escalating quickly with China
becoming increasingly bellicose and aggressive.
We can drop 15% from the highs, we've got 64% more to come don't the downside.
Toss a dart, there's a great many boards to hit in our Bar.
Watch to see IF they can challenge the 21SMAs... 15087 for NQ, anything is possible as long as
the FED will cough up Coupons to recycle.
It will simply make the next Dump that much worse.
We indicated a retracement today, let's see where we land at the close.
RT1050
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Agree with all points and fully aware of the Taiwan powder keg. I too felt with Toyota sales off 30 or 40% that Tesla numbers and Nio for that matter must be BS. Of coarse, all Fed numbers are fiction as well. Stay safe and hope all goes well for you
HK_L61
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@RT1050, You too, the illusion is strong but fading quickly...
HK_L61
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VXN tests 26.36 / .382
And
Leaves a Gap @ 27.90
HK_L61
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ES 4328 - 4338 should provide an interesting level, the NQ is racing towards the 50 @ 601
with the Upper Trend Line of the Daily Downtrend.
VXN Breaks .500
What's the rush :)
HK_L61
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And here is our CT - Let us see where they take it 624 - 701 is OPEN.
573 is well short to 60 1-624 into 10AM EST.
VXN reversed off .500 @ 26.83.
They need 600+ for a squeeze, perhaps when FED provides at 11 AM EST.