10:39 AM CT - I've added the overstep Market Delta nautical chart to demo how we've largely sustained cost inwards a higher house VWAP on potent NYSE TICK in addition to positive Cumulative Delta. Note the outperformance of NASDAQ in addition to Russell 2000 stocks, suggesting favorable opportunity appetite. As long equally nosotros come across a positive Cumulative TICK, the path of to the lowest degree resistance is to the upside.
After a potent showing before inwards the overnight session, stocks stimulate got fallen below their volume-weighted average cost (red line), failing to stimulate got out resistance inwards the 1110-1112 expanse of the ES futures. At the same time, we've seen opportunity assets clit dorsum inwards pre-opening trade: commodities, euro, in addition to Aussie dollar.
Note that we're edifice book but about the 1106/1107 area; how nosotros process that cost degree volition tell a smashing bargain virtually the day's trade. Inability to sustain cost inwards a higher house VWAP in addition to that resistance degree would pose a employment for the bulls in addition to would stimulate got me looking to the downside. At this juncture, we're trading inside the overnight attain in addition to I'll locomote looking closely at tests of attain extremes for clues equally to the day's direction.
I'll locomote updating the marketplace this forenoon via Twitter in addition to the blog.
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