Our globex inventory is 100% short, yesterday end of day move wiped out all the buying we had in RTH and trapped supply over 4550 so what can we expect from it today? Its a lower volume week with sellers above 4590 and buyers below 4520 which is why we are getting this chop order from that takes everyone's money, have to be patient to trade this. On the down side...
Slow grinding globex action leaves us with inventory 100% long today. What can we see today in RTH? On a bigger time frame we flushed down our inventory over 4620 and now we are almost back to the location of the break down on Jan 18. Question is did we really clean up all that trapped supply in such a short time, have no more supply for sale and clear to go up or...
After exciting month end yesterday, what can we see today? Overnight inventory is currently long over the close and over out 4480 level. Today we want to see if we will continue our strength, retest and hold lower levels or find temporary balance? On the down side we have PM support at 4490-4487.25 if we get under and hold, that will be our first sign of weakness....
Overnight inventory was long and balanced between 4400-4437. Took us all night to be able to get under 4400 which means we have a lot of buyers down there. Today what we want to see if we will continue our strength from Friday and keep going up. Will we test the breakout area at 4480 or will we balance after choppy and volatile week last week. We have 4432-4437 as...
Globex inventory is short today and we are waiting to see what will RTH bring us. We have 4 days of trading and inventory trapped between 4270-4380 with no upside. Every position that was built down at the lows has been taken up, sold and then price drops because there is more supply coming down, trading is all about the supply because demand is created. If there...
ON Inventory is short under 4310. Currently being sold over 4320. Yesterday we corrected inventory off the open and took the lower stops, then we spent the time leading up to the FED building up stops. At 2pm we did something opposite from what we seen at FED days last year which is big MGI. We used it to run the upper stops this time first to sell the rest of our...
Overnight inventory is 100% long and at a big resistance level where we have sellers. Do we make a move out of it and hold or will we chop between that and our lower zones before the FED? We have 4424.50-4418.25 as our KEY intraday resistance level and 4378-4374.75 as our KEY intraday support. Breaking and holding above resistance today can see 4432-4437,...
Was the bounce real buying or just short covering? Todays big question, was the bounce real and we will build position here to take hire or was it just short covering and we will see that low get tested again and of course our third option is stay in range until FED tomorrow. Today we have important levels to keep on watch for bigger changes. To the upside we have...
ON Our level of 4420 worked well. We got over the level and could not get any upside which means we just sold all the inventory that we bought under 4400. It took a long time for people to realize they are trapped and start selling out which is what we are seeing now. We had a small bounce close to our 4355 level but had enough supply to break in it. Question...
Lets look at what we can expect from ES tonight and important areas to watch for reactions. Right now we have inventory leaking out from the range that we were holding from October 19th. Tonight we have 4370-4350 an area where we can see good mount of short covering to support us tonight and if holds a good area for responsive longs, sellers are over 4400-4420 and...
ON session was used by size traders to unload the supply taken in on the way down yesterday, we have been balancing between our 4470 - 4440 zones because we have buyers(trapped shorts) below that and trapped longs(sellers) above that. Today we should see further liquidation off the open using the ON low as reference and the levels. On the down side we have 4420 -...
ON Inventory is long and been over vwap all night. we have jobless claims coming which sometimes is used to run stops so dont recommend trading until the market opens up and provides some MGI ( Market generates information ) Are we going to get a correction before the open and then higher at the open or will we get a correction after the open and head lower. We...
What can we see in globex tonight? More selling maybe? We have so much supply trapped over 4590 and so many hungry shorts under us waiting to cover!! I think we need to let them breath and get some fills right? Lets see if we can take it lower to feed some shorts. Levels to watch 4550 - 4520 - 4500 and 4570 - 4590 and 4614 to the upside if that happens. Keep an...
ON Session we saw more selling until we got close to our 4520 level which is a big one if broken and we expected buyers to be there. We did find buyers there and all of the supply was absorbed. We hit double bottom on 30 which is a good sign NOT to short but go long instead because selling is complete for time being. Position in hand and we took it up to test...
ON Inventory 100% short from Friday close, we are currently being held up and position is being put together. Will want to see a correction at the open or before to sell this and then see if we will keep going lower or will we have all the supply to take this thing higher? Big levels to watch on the downside are 4572 - 4546 - 4522. We are under T+2 Close if we...
Globex right of the open inventory was long and we found a seller, sold lower until we found buyers AKA trapped shorts under the 4640 level, longs started building a position there once price stabilized, which was then taken and sold higher but since it was a low volume holiday we didn't have enough gas to take out the stops from overnight high. Tonight and...
Found a bid at 4607 balance level, supply is in hand and on the move where are we going to sell it?