Price, Price Spread, Lagged Price/Volume Spread, and Binary Price/Volume Indicator
Price and Total Volume With 50-period Moving Volume Average
Fibonacci Price Scale With Targets
It appears that MNQH23 is walking an hourly chart tightrope between Fed and employment data euphoria ( assuming the employment data is accurate, which is highly in question) and market traders who want to absorb the relatively swift rallies of the previous week.
Asian and European trading basically flatlined overnight, attempting to rally but barely getting back to the 12549 VWAP level which represents a de facto tightrope between extreme bullishness on the upside and bearishness on the downside.
If MNQH23 can rally above 12549. 12608.75 should be easy to exceed and 12640 and 12703 should be easy to hit by today or tomorrow. If there is strong bullishness, 12825 and beyond is within easy reach. Perhaps Jerome Powell or Michael Barr will spin their opinions to please their institutional audience, but who knows?
If not, it’s a pretty short trip for MNQH23 to hit 12456.50 and back toward 12362.50. 12304.25 and 12210 are not far behind either on extreme bearishness, as those bullish bars of a few days back are quite wide. Bears love wide bars to retrace.
I will trade what I see if breakout levels in any direction are hit with price momentum and volume behind them. If not, I will stand aside. I pulled 57 NQ points long yesterday, but once I hit the target I left. I now have an additional contract to trade with today. My first goal as always will be to protect the equity I earned.
More will be coming soon.
Economic Data Courtesy Of Econoday Dot Com
4-Week Bill Settlement
8-Week Bill Settlement
4-Month Bill Settlement
International Trade in Goods and Services
8:30 AM ET
4-Week Bill Announcement
11:00 AM ET
8-Week Bill Announcement
11:00 AM ET
4-Month Bill Announcement
11:00 AM ET
Jerome Powell Speaks
12:40 PM ET
3-Yr Note Auction
1:00 PM ET
Michael Barr Speaks
2:00 PM ET