Overdue for a Prop after placing a nice DB on the Lower Trendline.
The order of the Day, the Straggler - NQ whose Price action is a bit
much to stomach at this point.
BANK is driving the ES YM RTY Higher as it is now up 3.76% - and
has a higher Gap to Fill well above 5K.
Sectors rotation to some Value Trades, but remains in Distribution
Mode into the Next level of Fills.
It should continue to Grind Higher for now.
The ES Remains 100 Handles below the Key 4678.25, doubt it can recover
that level, but they will attempt it, it's just FED Chits after all.
Technically the Damage done remains - Equity Markets will retrace, only
to be sold once again.
_____________________________________________________________
Underlying Breadth remains terrible and Indicies are being propped via
the Usual Heavy Weights.
Oil helped provide a boost to confidence overall as it reached the PO and reversed $5.
Never hurts to have the Black Gold along for the rise.
Bottom Callers are beginning to pick up the pieces for a Year-End Rally.
December Volumes Die off after the 17th and with the Pelican out December 14/15
with more bad news - Operators will attempt to make this "Just another 5% decline,
a Dip to Buy"
The order of the Day, the Straggler - NQ whose Price action is a bit
much to stomach at this point.
BANK is driving the ES YM RTY Higher as it is now up 3.76% - and
has a higher Gap to Fill well above 5K.
Sectors rotation to some Value Trades, but remains in Distribution
Mode into the Next level of Fills.
It should continue to Grind Higher for now.
The ES Remains 100 Handles below the Key 4678.25, doubt it can recover
that level, but they will attempt it, it's just FED Chits after all.
Technically the Damage done remains - Equity Markets will retrace, only
to be sold once again.
_____________________________________________________________
Underlying Breadth remains terrible and Indicies are being propped via
the Usual Heavy Weights.
Oil helped provide a boost to confidence overall as it reached the PO and reversed $5.
Never hurts to have the Black Gold along for the rise.
Bottom Callers are beginning to pick up the pieces for a Year-End Rally.
December Volumes Die off after the 17th and with the Pelican out December 14/15
with more bad news - Operators will attempt to make this "Just another 5% decline,
a Dip to Buy"