MNQZ22 Hourly Analysis and For 11/30/2022 - My Way of Analyzing Potential Daily Price Ranges

Tons of GDP, employment, and interest rate policy information coming out today, so it could be quite active in the markets and for MNQZ22

Nov 30, 2022

Overnight, a mild rally after yesterday’s selloff occurred in Asia and thus far in Europe. Spreads are still bearish, and it would appear that the lagged price volume spread is overbought in a bearish price spread environment. We will have to see if that changes as this day progresses.

If MNQZ22 can remain above 11534.50, it has a shot at retesting a VWAP line above 11612.75 (11619.75) and retesting yesterday’s high of 11704.25. There’s a lot of old VWAP resistance above that 11704.25 high, so it could stall out at 11769.25, but if mom-and-pop (and the institutions) like the economic data, it could rally to even 11852 in the next couple of days..

If not, it’s a short trip back to 11465, and has the potential to hit old VWAP support at 11418.75 or go as low as 11400.

If hourly AB=CD price symmetry were to take place, MNQZ22 could dive back to the 11350 area. NO ONE KNOWS ANYTHING WITH ANY CERTAINTY, HOWEVER.

The economic calendar below is active, and the fun will start pre-market open (at 0930 EST). We will simply have to see how markets react.

More will be coming soon.

Economic Data provided by Econoday dot com.

2-Yr Note Settlement

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10-Yr TIPS Settlement

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MBA Mortgage Applications
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ADP Employment Report
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GDP
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International Trade in Goods [Advance]
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Corporate Profits
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Retail Inventories (Advance)
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