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SP 500 E-mini Future
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| 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.
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| 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
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| 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....
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| 5 min DX note the gap under Monday low |
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
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| 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.
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| 5 min NQ |
If apple fails 450 tomorrow the NQ sauce will be spilling all over 2760.
Crude Oil
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| 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.
| ES_F | NQ_F | CL_F | TF_F |
|---|---|---|---|
| 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 |
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