Market has rallied during overnight session and will Open gap up.
Need to see a test of ETH High for direction.
Level to watch 3163 --- 3161
Reports to watch:
US:PMI Services Index
9:45 AM ET
US:ISM Non-Mfg Index
10:00 AM ET
:) :) :) Hope you are all ready for this one, The GBPUSD seemed to have respected the same pattern in the past, lets wait for it to re-test then we climb
Possible double top, formed with a bearing continuation pattern formed, breakout and a confirmation candle to the downside might run with a couple of pips
Using unusual volume and Option Expiration Fridays as pivot points to draw out 45 day and 7 day trend line cycles, I'm predicting that TSLA will have a retracement near the $269 price - correlated to the 50% Fibonacci Retracement overlay. I've drawn out a couple of 7-day cycle trends that are not biased validations.
Stop Loss price at the previous support of...
After a major rally on Friday, market would normally trade in a range next trading day.
It seems that is what overnight session has been doing.
However, market needs to stay above Friday's Close since it was tested twice so far during overnight session.
Level to watch 3204 --- 3206
Market has rallied above Fibonacci 1.618 extension level during overnight session.
Since it is right before holiday trading, we could expect some sort of pullback at ETH High.
Level to watch 3030 --- 3028
Report to watch:
US:Factory Orders
10:00 AM ET
US:EIA Natural Gas Report
10:30 AM ET
For a week market has been trading within a range and a seesaw pattern.
Test of ETH Highs might suggest a direction for the day.
Level to watch 3145 --- 3143
Report to watch:
US:New Home Sales
10:00 AM ET
Since Fed announcement yesterday, market has sold off and continued to do so during overnight session.
It might be a good idea to see how market react to ETH LOW when it opens.
Level to watch 3100 --- 3098
Reports to be aware of are:
US:EIA Natural Gas Report
10:30 AM ET
After couple of days of decent rally, we might see some sort of pullback which is normal.
Today might be a wide range day due to volatility in the market.
Level to watch 3079 --- 3077
Reports to be aware:
US:PMI Manufacturing Index
9:45 AM ET
US:ISM Mfg Index
10:00 AM ET
US:Construction Spending
10:00 AM ET
US:EIA Petroleum Status Report
10:30 AM...
It seems that market is struggling to rally during overnight session.
So far, market has tested overnight session High few times and failed.
Test of ETH High during RTH session might set direction.
Level to watch 3053 --- 3051
Report to watch:
US:Chicago PMI
9:45 AM ET
US:Consumer Confidence
10:00 AM ET
US:Jerome Powell Speaks
12:30 PM ET
Currently market seems to be testing Fibonacci 50% level of Friday's RTH session.
If bears can hold that level, we might get a sell off.
Level to watch 3027 --- 3025
Reports to be aware:
US:Pending Home Sales Index
10:00 AM ET
After a great rally yesterday it seems that both buyers and sellers were active during overnight session.
If sellers can defend yesterday's Close then we might see some sell off.
Level to watch 3063 --- 3061
Report to watch:
US:Consumer Sentiment
10:00 AM ET
Overnight session market has tested yesterday's Close which coincides with Fibonacci 38.2% level.
If bulls can not take out 50% level of yesterday's RTH session, then sellers will probably take control.
Level to watch 3027 --- 3025
Report to watch:
US:EIA Natural Gas Report
10:30 AM ET
Yesterday after rallying most of the day, market sold off hard late in the afternoon which could be of concern for Bulls.
Sellers are very active and need to defend yesterday's Close.
Level to watch 3100 --- 3098
Report to be aware :
US:State Street Investor Confidence Index
10:00 AM ET
US:EIA Petroleum Status Report
10:30 AM ET
Friday market finally tried to break out of the range it has been trading most of the week.
For this sell off to continue, sellers will have to defend 50% range from Friday's RTH session.
Level to watch 3085 --- 3083
Report to watch:
US:Existing Home Sales
10:00 AM ET
For last three trading sessions market has been in a range, today probably will be no exception.
Need to see a test of ETH High
Level to watch 3128 --- 3126
Reports to watch :
US:Jerome Powell Speaks
1:00 PM ET
