For Mon 210823 (Plenty can change by the open, be aware.)
Globex Review: Melting on up. One takeable trade still open with two targets in the bag.
Day Session Analysis: Risk ON as world sentiment is very bullish. Looking to take trades in either direction with good reward/risk. Monday (both sessions combined) garnered 27% of all the gains over the past 5 years in dollars. Reversals and Breakouts are about even. Trading ES/CL/GC using BB Rev with new filters considered and looking for good credit spread levels on the SPXW.
S&P 500 Futures CPL: 4435/4438.25. We’re trading ABOVE the CPL (short edge below, long edge above) and ABOVE the equilibrium 4416.25/4425.75 (open below = short edge, open above = long edge).
The World Index: (+100/-100) registers +71 with all major world markets bullish (short edge).
Catalysts: PMI Composite Flash @ 9:45. Existing Home Sales @ 10:00.
Trends: 60 min UP (starting to range), daily UP (short edge).
Chart: High outside day (long edge). Stat update shows both directions perform well with SHORTS offering 20% more points. Opening +0.35%. $TRIN XMA stable at 1.12 (long term outlook: stay long).
Globex: The range of 21.50 (possibly higher by the open) suggests a day session range around 38 points on a RISING ATR of 37.61. Prior forecast around 53 points, actual 40.50.
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