to I have had some technical issues related to a power outage so words will be brief this morning.
It seems Asia and Europe have tried to rally MNQH23 from the lows of session Thursday afternoon. The real question is, on a short trading session today will information regarding durable goods and personal income be able to sway markets either way?
If MNQH23 can move above 11224, it has a solid chance to move back to 11348.75 and to 11384.25. I am not certain on a short session that we could rally out to 11523, but if the market strengthens it could be a target for Tuesday.
If we cannot remain above 11224, then we begin a retest of support lows, then a retest of 10970.50, and a potential extreme of 10730.75 is possible, if not today, but on Tuesday if sellers take over the market.
I for one will watch volume today and if nothing meets my criteria, I will walk away until next week. We will see how things open up at 0930 EST this morning.
Merry Christmas and Happy Hanukkah everyone!
More coming soon.
Economic Data courtesy of Econoday.com
Durable Goods Orders
8:30 AM ET
Personal Income and Outlays
8:30 AM ET
New Home Sales
10:00 AM ET
Consumer Sentiment
10:00 AM ET
Baker Hughes Rig Count
1:00 PM ET
SIFMA Early Close
Thank you. Merry Christmas 🎄