Not so much has changed tbh, very much two-way tape, but mostly with passive buying pressure grinding up.
Coming up to multiple strong R zone, especially 25895 - 25965 where sellers pressed it down, and buyers has been failing to even meaningfully re-test it.
Still expect two-way choppy price action, with mostly active sell tape and passive buying pressure.
At this point, just depends on the data coming out this week, most importantly NFP data on Friday, since the Fed has shifted their priority to the unemployment side of the dual mandate, to maybe decide the next leg.
NQ is coiling up for the next leg. So right now I still think it’s range bound and will be more likely to mean revert. This will be my bias until it proves others.
NQ is coiling up for the next leg. So right now I still think it’s range bound and will be more likely to mean revert. This will be my bias until it proves others.
Still thinks the PA will be jumpy, like yesterday, might not be an easy/clean session. Full of passive participants.
Not so much has changed tbh, very much two-way tape, but mostly with passive buying pressure grinding up.
Coming up to multiple strong R zone, especially 25895 - 25965 where sellers pressed it down, and buyers has been failing to even meaningfully re-test it.
Still expect two-way choppy price action, with mostly active sell tape and passive buying pressure.
At this point, just depends on the data coming out this week, most importantly NFP data on Friday, since the Fed has shifted their priority to the unemployment side of the dual mandate, to maybe decide the next leg.
Nothing really changed, still just range bound. Price poked 25570 during yesterday’s session but bids quicky came in and showed no interest transacting down there.
With SCOTUS expected to release some of opinions regarding tariffs, NOT FINAL RULING (correction from earlier post) sometime today, expect there will be some short-lived volatility. Other than that and the premarket data release, I still expect just a ranged bound, choppy price action. Except maybe from the market open, it will still be the same ol same ol passive flows and jumpy price action, at least in NQ.
Currently the bears have the advantage to push this lower b/c buyers failed to launch higher 3 times now at the high around 26000, and now some bids have been caught off the wrong side.
However, if the offers can’t push for a new low (larger TF has been forming HL), likely the buyers will take over again and retest the swing high around 26000.
Bears would want to defend heavily at 25926, and ideally should defend 25872 as well, we’ll see.
