With London closed today we’re looking at a pretty lackluster session. Which however gives equities a little breather in order to decide where we’ll to go next. After a promising start we hit a snag mid session when we apparently ran out of juice – not surprisingly the Zero Lite has gone pretty flat.
On the comedic side of things we are currently stuck in a volume hole that terminates near 1666. I made up the 0.66 bit as that tick doesn’t exit (the ES trades in 0.25 ticks) – but that number keeps popping up every so often which I find interesting. Anyway, a bit surprising to see us go all the way through that and then turn. At this point I’ll strike it up to low volume shenanigans.
As you know the NLBL on the daily E-Mini got us long last Friday. We are still above it but that weekly NLSL at 1665.75 – which will have to be breached in order to drive us higher. The bulls do not want to close below it again this week.
The VIX painted a bonafide VIX Buy Signal last Friday and the implications are higher prices in equities within a week’s time. In between it would actually be nice to see a little drop which would give us a juicy Retest Variation Long.
It’s been slim pickings on the setup front but I did manage to dig up a few promising victims:
It's not too late - learn how to consistently bank coin without news, drama, and all the misinformation. If you are interested in becoming a subscriber then don't waste time and sign up here. The Zero indicator service also offers access to all Gold posts, so you actually get double the bang for your buck.