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
Congressional debt limit talks continue with no resolution, interest rate hikes and the health of regional banks are still in question, and now even oil price stability is in question since the fascists took control of Washington almost 29 months ago, OPEC once again can rattle markets to place fear in the hearts of American consumers and money in the pockets of those who oppose the health of the American economy ( and that seems to be most of the people in Washington these days).
It’s just another day in paradise.
I will continue to look at the charts to measure the extent of the moves and to look for profit opportunities on either side of the market. MNQM23 sold off overnight, I would assume over all the budgetary haggling, but really, it appears for now that this contract could be oversold and has found some support around 13899.75.
If MNQM23 can remain above 13899.75, it can likely rescale the wall back to 13936.50, and if buyers press, back to 13977.25, and perhaps onto 14006.25 and 14043.25 in the next couple of days. If not, it could be a short trip back to 13870.25 and back to 13841 and 13804 by Tuesday perhaps.
We will have to watch the volume in relation to all the insane news flow to look for those opportunities. If they don’t show up this morning for me, I will leave the trading platform and saddle up again tomorrow. I did pick up 16 NQ points long in yesterday morning’s session. I will have to see if there is sufficient volume to drive a breakout in either direction before hitting it again.
That is all for me today. If you have questions, leave them in the comments and I will respond. More will come soon. Make some money and some happiness this Tuesday!
Today’s Economic Data Courtesy of Trading Economics dot com. Be sure to refresh the date at the top left.
