Best Stock Hints Latest Tips To Buy & Invest Best Stocks Today
Value Areas and POC figures for /ESZ7 and /NQZ7 Futures are posted free every morning HERE. Click on any posts in the list on the left pane to see them in the main window. Don’t click on the ST logo as it will just refresh the page and you’ll get only the topmost post over and over. Click on the title or text.
Value lower yesterday with some decent range extension to downside. Pursuant to my comments yesterday about how quickly the pendulum keeps shifting from too long to too short, the market of course closed near the highs, negating whatever range extension to the downside happened just hours earlier. The TPO POC did remain in the lower reaches of the distribution so that’s at least a slight nod to the bears.
Overnight inventory is close to 100% net short. We are not, however, gapping at all and will open within balance. There is relative strength overnight in /NQ futures which is no doubt a reaction to the oversold conditions in that index. The ONL in the /ES went right to just one tick above halfback. The market continues to trade in a mechanical, visual, manner.
As value has been overlapping to lower for three sessions, I am giving little credit to sellers here who I feel are doing a poor job getting the market lower. The Dow made a reversal bar at the close of yesterday and AAPL is very strong premarket which could be a catalyst to boost tech, the NDX, and the SPX may follow.
Have a nice day,
peter
Source link
