Info!! Pre-Opening Briefing: Dorsum Into The Range

Here's a await at my Market Delta nautical chart (bottom) prior to this morning's gross domestic product in addition to jobless claims numbers. We peeked higher upward yesterday's highs inwards the ES in addition to NQ contracts, solely to draw dorsum every bit the overnight session progressed. That sets yesterday's high in addition to the overnight high every bit of import resistance areas, nearly term. Note how we've transacted to a greater extent than book at the marketplace bid than offering thence far (bottom histogram) in addition to are currently trading below the day's volume-weighted average cost (VWAP; ruby-red line). Meanwhile, we're accepting value inwards the 897-900 hit inwards the ES contract, which--importantly--is non far from yesterday's pin (average price) level.

What does that mean? We're good inside yesterday's trading hit in addition to ask to encounter if the morning time numbers motility us (and tumble out away along us) away from that 897-900 consensus area, amongst yesterday's highs in addition to lows every bit cardinal near-term resistance in addition to support. If the numbers can't motility us significantly, scout today's opening cost in addition to VWAP every bit early on fulcrums for hit trade.

7:50 AM CT - Note how the weak numbers led to pregnant selling (middle chart) in addition to rejection of the 897-900 grade referenced above. We've broken yesterday's depression inwards ES, amongst the 6/23 lows every bit a target if nosotros cannot sustain a bounce dorsum into yesterday's range. Meanwhile, we're edifice book at lower prices in addition to trading good below a declining daily VWAP. I'll live on updating marketplace activity via Twitter subsequently the open.

9:50 AM CT - With a strengthening dollar in addition to weakening banking concern stocks, nosotros are having problem vaulting higher upward the multi-day highs (top chart), leaving us hit jump in addition to suggesting a possible retracement dorsum to the hit mid-point, every bit book at bid lately inwards ES has exceeded book transacted at the offering price.
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