As nosotros tin run into from the nautical chart of the S&P e-mini (ES) futures above, nosotros are running into of import resistance inwards the upper 1060s afterwards having taken out the highs from the by ii trading sessions inwards overnight trade. We're seeing higher crude prices, higher 10-year Treasury yields, higher gilt prices, as well as a much weaker US dollar. In short, the intermarket themes are showing opportunity appetite as well as that looks to locomote supporting stocks. That having been said, nosotros direct hold a Fed statement tomorrow afternoon, as well as then croak along an optic on intraday volumes tailing off, equally traders may direct hold bets off the table--keeping markets tedious as well as rangy-- ahead of the event.
Failure to sustain a motion higher upwards overnight highs would back upwards unopen to 1062 as well as 1 time to a greater extent than unopen to 1057/1058. On whatever motion to novel bull highs, I'd locomote watching closely for confirmations as well as non-confirmations, to justice the possibility of a fake breakout to the upside. As I mentioned earlier, I believe we've seen a momentum peak for this bull leg concluding week; nosotros tend to run into toll peaks on weaker forcefulness as well as momentum thereafter. So far, the marketplace set activity is consistent amongst that expectation.
I volition locomote updating marketplace set indicators via Twitter during the day; follow the Twitter flow here.
.
No comments:
Post a Comment