Globex Review: One trade taken running for 7.75 to capture two targets and then stop out the remainder on the pivot.
Day Session Analysis: Mixed evidence today. Daily chart in a range, hourly melting up. World sentiment is MIXED. No market-moving economic reports. Willing to trade in either direction, mindful of potential reversals in the big picture range-bound chart. Tuesday (both sessions combined) garnered 20% of all the gains (in dollars) over the past 5 years. Reversals and Breakouts are about even. Trading ES Volume Profile, CL/GC/ES using BB Rev with new filters considered and looking to establish a Credit Spread ladder on the SPXW.
S&P 500 Futures CPL: 4405.75/4409.50. We’re trading BELOW the CPL (short edge below, long edge above).
The World Index (-100/100) fades from +67 to +14 in a world of mixed sentiment (modest short edge).
Catalysts: Nothing big on the economic front. Chinese government crackdown on private enterprise extends to gaming stocks. Regulation = good news for (legitimate) crypto investors… SEC speech today on the subject. Covid Delta still relentless.
Trends: 60 min trend up after breaking yesterday’s wedge down (hard), daily now in a range (short edge).
Chart: Inside day. Stat update shows LONGS outperform SHORTS by about 50% (points earned). Opening +0.35% (short edge). $TRIN XMA stable at 1.21 (long term outlook: stay long).
Globex: The range of 16.25 suggests a day session range around 31 points on a LEVELING ATR of 37.70. Prior forecast around 40 points, actual 36.75.
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