Currently market is trading at 1.618 extension of yesterdays RTH session. Market has a tendency to pull back at this level. Would need to see a test of overnight Highs before deciding on direction. Level to watch 3267 ---3269 Reports to be aware of are: US:Factory Orders 10:00 AM ET
Hope all Super Bowl 54 fans enjoyed the game. After selling off on Friday, overnight session market has tested Fibonacci .618 level twice. If .618 level holds then we might see a test of the ETH session Lows. Level to watch 3249 --- 3247 Reports to be aware of are: US: PMI Manufacturing Index 9:45 AM ET US:ISM Mfg Index 10:00 AM ET US:Construction...
Last five trading sessions market has been very volatile. Overnight session market has sold off to test 50% of RTH session. If Bulls can not defend 50% line, than we might have another sell off. Level to watch 3293 --- 3291 Reports to be aware : US:Consumer Sentiment 10:00 AM ET
Since yesterday afternoon sell off, market has not let up and continued to drop during overnight session. It seems like market is testing Tuesday January 28, level. If market can not get above Tuesday January 28 opening bar, we might see more selling pressure. Level to watch 3256 --- 3254 Report to be aware : US:EIA Natural Gas Report 10:30 AM ET
Market has rallied during overnight session and has been trading sideways all morning. There are couple of things to watch for at this level. If it will close the gap from Friday and how it reacts to 3300. Round numbers such as 3300 are psychological areas where traders react. If traders can not get above 3300 then we might get some selling pressure. Level to...
Overnight session market seems to be stuck in a range of Fibonacci levels 1.272 and .382 For any rally to happen, market needs to breakout of overnight Highs convincingly. Otherwise we might be stuck in a range for the day. Need to see a test of overnight Highs. Level to watch is 3256 --- 3254 Reports to be aware of : US:Consumer Confidence 10:00 AM ET
After Friday's aggressive selling market sold off more during overnight session. However, there seems to be some buying this morning which could be an indication of buyers at certain level. Need to see a test of overnight session Low's and bulls defending for a rally. Level to watch 3235 --- 3237 Report to be aware of : US:New Home Sales 10:00 AM ET
Overnight session market rallied exactly ten points from yesterdays High and it also coincides with last ATH. If market cannot get above overnight High, then we might see retracement to test yesterdays level. Level to watch 3332 --- 3330
Yesterday market sold off and closed at the Low for the day. One would expect a sell off during overnight session. However, overnight session trading was range bound, might be a range bound day session as well. Need to see a test of overnight Lows. Level to watch 3317 --- 3315 Reports to be aware of are: US:Leading Indicators 10:00 AM ET US:EIA Natural Gas...
Yesterdays RTH session market rallied and tested ATH but sold off to close below 50% of the range. Then during overnight session makes an ATH. Given where market closed yesterday and how traders react to ATH, look for a test of Highs of ETH. Level to watch 3335 --- 3333 Reports to be aware of are : US:Existing Home Sales 10:00 AM ET
Overnight session market has sold off to Fib 1.618 support level. If the market cannot get above Fridays Lows, then we might have more selling. Level to watch 3312 --- 3310
Overnight session market has traded to another ATH which is also at 1.618 extension of yesterdays RTH. Would not be surprising if traders sell off at ATH again. If sellers can push it below yesterdays Close then there might be some selling pressure. Level to watch 3219 --- 3217 Reports to be aware of are: US:Consumer Sentiment 10:00 AM ET US:JOLTS 10:00 AM ET
Overnight session market rallied to 3308 which is at 1.618 extension of yesterdays RTH. Given yesterdays price action and how traders react to ATH, we might see a sell off. Would look for a test of overnight Highs. Level to watch is 3297 --- 3295 Reports to be aware of are: US:Business Inventories 10:00 AM ET US:Housing Market Index 10:00 AM ET US:EIA...
Overnight session market tested yesterdays Low and bounced up. As long as yesterdays low holds we could expect a rally. Level to watch 3281 --- 3283 Reports to be aware of are: US:EIA Petroleum Status Report 10:30 AM ET US:Beige Book 2:00 PM ET
After a good rally yesterday, overnight session market has been trading within a range. I would expect today to be a range bound day. Would look for a test of overnight Highs. Level to watch 3290 --- 3288
Overnight session market has been trading in a range. However, when 50% range of Fridays RTH session was tested, market bounced for a while. We will probably see some sort of rally after Fridays PB. Look for a test of overnight Lows. Bulls are still very active. Level to watch is 3272 ---3274
Overnight session market has rallied then went sideways. We could have a range bound day after having ATH in two back to back sessions. Would look for a test of overnight Highs. Level to watch 3284 --- 3282 Reports to be aware of are: US:Wholesale Trade 10:00 AM ET
It seems like that we will have another ATH today. However, yesterday market sold off late in the afternoon to test 50% level which could be of concern. Would like to see a test of overnight Highs. Level to watch 3263 --- 3261