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
I had a couple of technical issues that were resolved this morning, thus the late report.
Not really sure if Putin’s suspension of the nuclear weapons pact with the USA this morning caused selling in Europe, but whatever happened this morning, European sellers got busy after 0400 EST.
Anyone who remembers George Carlin’s “hippie-dippie weatherman” remembers his warning about not sweating the thundershowers in the midst of incoming nuclear ICBMs, but I really don’t think about news, I just look at what charts indicate. Yesterday’s short session showed weakness in MNQH23 and it seems now we are wedged between that 12304 to 12311 VWAP resistance area and the 12087.50 VWAP area.
If MNQH23 can get above 12309, it has a shot at 12360 12396, and 12442 over the next couple of days. If not, it could be a short trip back to 12227.25, 12191, and 12094.50 over that same timeframe.
We are in the setup phase of the announcement of GDP and jobless claims on Thursday, even though FOMC notes hit tomorrow. There is a lot of room for price movement above and below where we are this morning, and the data later in the week may settle the direction.
All I am going to concern myself with are volume and price momentum, breakouts at extreme areas of the volume profile, and reasonable targets to profit from regardless of the direction they are in. If nothing is there, no trading will be done. We will simply have to see what happens at the open.
More is coming soon.
Economic Data Data Courtesy of Econoday dot com
4-Week Bill Settlement
8-Week Bill Settlement
4-Month Bill Settlement
PMI Composite Flash
9:45 AM ET
Existing Home Sales
10:00 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
3-Month Bill Auction
11:30 AM ET
6-Month Bill Auction
11:30 AM ET
52-Week Bill Auction
11:30 AM ET
2-Yr Note Auction
1:00 PM ET