8:19 AM CT - I added the operate past times nautical chart to exhibit how the ES futures are trading subsequently the morning time numbers. We initially sold off, thence bounced dorsum toward the day's session VWAP roughly 1107.50. Going dorsum to yesterday afternoon, the 1104/1105 grade has contained marketplace selling. We're likewise seeing intermarket themes--weak dollar, rigid commodities--supporting equity prices. As long equally nosotros remain higher upward that 1104/5 area, nosotros should brand a motility at testing bull highs. Influenza A virus subtype H5N1 motility below 1100 would contrary yesterday's together with Monday's firmness together with advise larger toppiness inward the market.
This Market Delta chart, amongst each bar representing 125,000 ES contracts traded, shows how we're setting upward going into the housing together with CPI numbers this morning. Note how nosotros held the 1100 surface area yesterday (which represented Monday's breakout level), together with similar a shot we're trading higher upward yesterday's range, edifice value higher. I'll update this amongst some other nautical chart together with detailed commentary prior to the marketplace open.
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