SP 500 E-mini Future
|30 min ES|
Nonetheless the ES closed higher by 7 points after trading into our morning letter target of 1555 IF the ES broke over, thus the HOD is now resistance @ 1555.75.
|1 min ES|
*note in the chart below the sharp sell off following the high of the day print @ 14:45hrs. I find trend reversals curious in regards to (algo influence) when they occur on a round number on the time line @ a round number on the time axis.. A example of this is as the 94.47 high in CL yesterday precisely @ 7:00 am CT before the sharp 2 dollar drop.
With all the being said.. based on the chart to the right a break under 1548 will trigger a move into 1545.. .if 45 fails it is back to 40.. if 40 fails.. back to 35... Pretty simple, i know you want some fancy formula or trader pseudonyms but it really is 5 point rotations dominating the price action. Simplicity or complication does not matter if you P&L is green.
FX & T-Complex
|30 min ZB|
Bullish how? Well the fact the FED is still sticking to their hawkish views of removing the punch bowl as data improves is reflecting in the value of the dollar....
|5 min DX note the gap under
Less dilution of the dollar = stronger dollar and a strong USA. On top of the DX strength you have to take into account the fact the index is up for a solid two straight months so a pullback from profit taking might not really affect correlative pricing when speaking to historical correlations.
Nasdaq 100 Mini Future
|1 min NQ|
This means 2780 is the line in sand before we lurch into the the RED box which shows a gap into 2766 tough 2770 i think will see some support if it does trade.
|5 min NQ|
If apple fails 450 tomorrow the NQ sauce will be spilling all over 2760.
|15 min CL .. a H&S is arguable neck @ 92.50|
The CL price was taken down into the 92.50 level, though true to form... the level held like a champ..
BUT keep in mind the longer 92.50 holds the greater the mass becomes of the sell stops located under the level.. SO IF 92.38-50 fails with conviction i can almost guarantee you will see a drop into 92 shortly thereafter.
That being said upside resistance to watch for buy stops over is 93.54 which will thing bring the Tuesday morning high of 94.47 into resistance . OVER = 94.75 then 95. IF DX relents further should solidify the BID barring any other macro news.
|R1: 1550.50||R1: 2790||R1: 93.54||R1: 945|
|R2: 1555.75||R2: 2798||R2: 93.75||R2: 947|
|S1: 1548||S1: 2780||S1: 93.25||S1: 944|
|S2: 1545||S2: 2770||S2: 93||S2: 943.50|