MNQH23 Hourly Analysis and For 01/12/2023 - My Way of Analyzing Potential Daily Price Ranges

CPI and Jobless Claims Could In Fact Direct Trend for the Next Week Or So, But Only Time Will Tell

David Buffalo

Jan 12, 2023

Price, Price Spread, Lagged Prive/volume Spread, and Binary Price/Volume Indicator

Price and Total Volume With 50-period Moving Volume Average

Fibonacci price scale with targets

Fibonacci price scale with targets WIDE RANGE

Sadly, I must cut to the chase this morning.

A quick bit of context, I purchased a consumer item that many might purchase and noticed something shocking. From this week to last, the price had increased from $3.28 to $4.58, a nearly 39.7% increase.

That could be the backdrop we will be operating in as CPI comes out this morning, but who knows (and who knows whether the Feds are lying about inflation as they did the total jobs created in a 6-month stretch last year (10,000 actual versus 1 million reported).

If we can remain above the 11468 VWAP line, Then it is possible for MNQH23 to rally to 11491.50, 11540, and 11601.50. If not, it could fall back to structural support around 11423. or perhaps back to 11313.25.

As we all know, these announcements are met with frantic buying and selling, and I want you to be aware with the wide range Fibonacci scale chart that it is not impossible to see 11637 or 11722.75, nor is it impossible to see 10967.50 or 10888.75 either.

I have no idea what will happen, but as always I will watch the volume, volume momentum, and price momentum above or below breakout levels to trade.

I was successfully long yesterday at an increased contract level, so I was happy with the result.

If I see nothing today, I will do nothing.

6 more days on the survey. I seem to lose subscribers when I post surveys. Y’all are sensitive.

More soon.

3-Month Bill Settlement

6-Month Bill Settlement

Patrick Harker Speaks
7:30 AM ET

CPI
8:30 AM ET

Jobless Claims
8:30 AM ET

EIA Natural Gas Report
10:30 AM ET

3-Month Bill Announcement
11:00 AM ET

6-Month Bill Announcement
11:00 AM ET

10-Yr TIPS Announcement
11:00 AM ET