Volatility
NKLA Long from bottom of channelNKLA has had an interesting week as it sought to have shareholders vote for a dilution to
raise the cash necessary to grow its business. The former CEO now convicted and awaiting
sentencing as a major shareholder led the opposition and the vote for a dilution failed.
Seemingly, NKLA will now seek capital through some other means. Earlier, it was awarded
a grant of $24M by California to build out hydrogen station infrastructure along the interstate
highways. On the 15-minute chart, the price is currently at the bottom of a slowly rising
channel coinciding with the bottom of the Donchian channel indicator and two standard
deviations below the mean anchored VWAP. I see this as a good entry point for targeting
first the middle of the channel and secondarily the top of the channel. I will find an exact
entry on a short time frame likely 1 or 3 minutes and expect to realize a profit of 12-13%
potentially intraday. Without regard to the fundamentals of NKLA's financial health, given
the extreme volatility, I believe that NKLA can be successfully traded long if the trade is
entered when it is oversold and undervalued.
NQ Power Range Report with FIB Ext - 7/7/2023 SessionCME_MINI:NQU2023
- PR High: 15211.50
- PR Low: 15211.50
- NZ Spread: 38.75
Big open interest jump
Discount brokers adjust margin req.:
08:30 – Average Hourly Earnings
- Nonfarm Payrolls
- Unemployment Rate
50% intraday retracement off RTH inventory
- Holding daily range, half-back
Evening Stats (As of 1:35 AM)
- Weekend Gap: +0.09% (closed)
- Session Open ATR: 217.38
- Volume: 22K
- Open Int: 253K
- Trend Grade: Neutral
- From ATH: -9.1% (Rounded)
Key Levels (Rounded - Think of these as ranges)
- Long: 15533
- Mid: 15247
- Short: 14675
Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
MULN trading the volatility LongOn the 30 minute chart, MULN has pulled back from a brief uptrend. I see things suitable for
an entry. I have added to the chart, the anchored VWAP lines serving as dynamic support and
resistance. The mean VWAP will be my designated stop loss while lines one and two
standard deviations above that are the first and second targets.
Overall, the long trade is projecting a ROI of 27% compared with the stop loss
of 11%. This trade could play out in only one day given MULN's volatility. The zero-lag
MACD shows a line cross impending and confluent with the zero horizontal line. The
relative volatility oscillator shows the magnitude of the shifts in that regard. From my
perspective, no matter the fundamentals of the financial health of MULN, the volatility
of the price action and technicals can be played long with high potential profit.
ETHUSD Update: Will there be a big move to the downside?Yesterday there was a move down to the lower range around 1890. But will the push lower continue today? If it does and my downside probability becomes smaller than my upside probability than I will add incrementally. The change in the TERR from yesterday to today was bigger than the LERR which gives me more confidence to buy at the lower end of my volatility range.
NQ Power Range Report with FIB Ext - 7/6/2023 SessionCME_MINI:NQU2023
- PR High: 15360.75
- PR Low: 15350.00
- NZ Spread: 24.25
Economic Events:
08:15 – ADP Nonfarm Employment Change
08:30 – Initial Jobless Claims
09:45 – Services PMI
10:00 – ISM Non-Manufacturing PMI
JOLTs Job Openings
11:00 – Crude Oil Inventories
Strong inventory run during Asian hours
- Tapped bear zone moon
- Maintaining daily range
Evening Stats (As of 12:05 AM)
- Weekend Gap: +0.09% (closed)
- Session Open ATR: 218.96
- Volume: 23K
- Open Int: 246K
- Trend Grade: Neutral
- From ATH: -8.5% (Rounded)
Key Levels (Rounded - Think of these as ranges)
- Long: 15533
- Mid: 15247
- Short: 14675
Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
Salesforce Has Been SnoozingSalesforce rallied along with other software and growth names between March and May. Is it poised for more upside after a June pause?
The first pattern on today’s chart is the falling trendline along the recent highs. A break of that resistance could make traders expect the uptrend to continue.
Next, CRM has been stuck near the 50 percent retracement of its drop between November 2021 and December 2022. That’s a natural place for a breather. However other stocks like Tesla and Meta Platforms have continued higher after resting at similar spots.
Third, Bollinger Band Width has narrowed to its tightest range in almost two years. That price compression could be followed by a period of expansion.
Finally, moving averages are still consistent with upward movement in price. CRM has stayed above its 50-day simple moving average (SMA). The 8-day exponential moving average (EMA) has also remained above the 21-day EMA.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
Important Information
TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com .
ETHUSD update: looking for a move to the downsideRight now it looks like ETH is making a move to the lower part of the range. if volume is heavy and it breaks out it could cause a big move down to 1800. Around this area or lower I would buy incrementally in 0.25 to 0.50 bps and add to my exposure. im looking for a drop close to the LERR, big ivol premium and large volume.
NQ Power Range Report with FIB Ext - 7/5/2023 SessionCME_MINI:NQU2023
- PR High: 15351.00
- PR Low: 15341.25
- NZ Spread: 21.75
Expected heavy volume at session open
- Traders anxious to get back after long weekend
- Ranging into London session, inside NZ
- Front running pivot high from June 16
Fed kicking off the short week
14:00 – FOMC Meeting Minutes
Evening Stats (As of 12:05 AM)
- Weekend Gap: +0.09% (closed)
- Session Open ATR: 219.98
- Volume: 57K
- Open Int: 243K
- Trend Grade: Neutral
- From ATH: -8.5% (Rounded)
Key Levels (Rounded - Think of these as ranges)
- Long: 15533
- Mid: 15247
- Short: 14675
Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
NQ Power Range Report with FIB Ext - 7/3/2023 SessionCME_MINI:NQU2023
- PR High: 15362.50
- PR Low: 15328.00
- NZ Spread: 76.75
Early Close at 12:15 CST
Evening Stats (As of 1:05 AM)
- Weekend Gap: +0.09% (open < 15318)
- Session Open ATR: 231.30
- Volume: 21K
- Open Int: 246K
- Trend Grade: Neutral
- From ATH: -8.5% (Rounded)
Key Levels (Rounded - Think of these as ranges)
- Long: 15533
- Mid: 15247
- Short: 14675
Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
BTC remains parked at resistance as BBs tighten BTC remains to be stuck at the 30-31k resistance zone, where it has been stuck now for almost 2 weeks. The Bollinger Bands are also tightening, so it appears everyone is waiting for a news event strong enough to kick the price in either direction.
The BTC ETF hype gave some temporary momentum, but without more concrete evidence that one will get approved, it isn't enough to continue the upward run.
I suspect there will be a dramatic move in either direction this week, unsure on the direction though at this stage.
Ichimoku Cloud Demystified: A Comprehensive Deep DiveHello TradingView Community, it’s Ben with LeafAlgo! Today we will discuss one of my favorite indicators, the Ichimoku Cloud. The Ichimoku is a versatile trading tool that has captivated traders with its unique visual representation and powerful insights. We will dive deep into understanding the Ichimoku Cloud, explore its history, discuss its parts, highlight real-life examples, and address potential pitfalls. By the end of this article, we believe you will know how to leverage the Ichimoku Cloud effectively in your trading endeavors. Let’s dive in!
Origin of The Ichimoku Cloud
The Ichimoku Cloud, also known as Ichimoku Kinko Hyo, was developed by Goichi Hosoda in the late 1930s but was not published until later in the 1960s. Its name translates to "one glance equilibrium chart," reflecting its ability to provide a holistic view of market dynamics with a single glance. Over time the Ichimoku Cloud has become a popular trading tool among new and seasoned traders.
Components of The Ichimoku Cloud
Some traders believe the Ichimoku cloud is a complex jumble of lines with no rhyme or reason, but this is not necessarily true. The best way to understand the Ichimoku cloud is to break it down into its respective parts. Each element contributes to the overall interpretation of price action, trend direction, support and resistance levels, and potential entry and exit points.
The Ichimoku Cloud has five components: Tenkan-sen, Kijun-sen, Senkou Span A and B, and Chikou Span.
The Tenkan-sen and Kijun-sen, often called the Conversion Line and Base Line, respectively, are essential in identifying trend direction and momentum. Below we can see a bullish signal happens when the Tenkan-sen crosses above the Kijun-sen. Conversely, a bearish signal occurs when the Tenkan-sen crosses below the Kijun-sen. Typical length inputs for the Tenkan-sen and Kijun-sen are 9 and 26.
The Senkou Span A and B form the cloud or "Kumo." These components serve as dynamic support and resistance levels, with Senkou Span A calculated as the average of the Conversion Line and Base Line and Senkou Span B representing the midpoint of the highest high and lowest low over a specified period, typically 52. The cloud's thickness and color provide visual cues for potential market strength and volatility.
The Chikou Span, or the Lagging Span, is the current closing price plotted 26 periods back on the chart. It helps traders gauge the relationship between the current price and historical price action, providing insights into potential trend reversals or continuation.
Putting the parts together gives us a complete picture of the Ichimoku Cloud. Each aspect contributes to the one-glance equilibrium theory, giving traders a more holistic view of price action.
Applying the Ichimoku Cloud in Trading
We now better understand all parts of the Ichimoku cloud, but that means little if we don’t understand how it can be utilized in trading. Let's explore examples that demonstrate the practical application of the Ichimoku Cloud:
Example 1: Trend Following
In an uptrend, we would look for the Tenkan-sen to cross above the Kijun-sen while the price remains above the cloud. When the price retraces to the cloud, a long position opportunity may arise, with the cloud acting as support. The Chikou Span should also be above the historical price action, confirming the bullish sentiment.
Example 2: Trend Reversals and Breakout Opportunities
A potential trend reversal or continuation can be identified when the Tenkan-sen crosses above the Kijun-sen and the price moves above the cloud. A breakout trade can initiate when the price breaks through the cloud's upper boundary, indicating a shift in momentum. For the Ichimoku cloud to give its strongest confirmation of a reversal, some traders will take a fairly conservative approach and wait for a few things to occur. Traders typically wait for a kumo twist, the Tenkan-sen/Kijun-sen cross, and the Chikou Span to break the cloud and be above the price.
The reverse of these signals can be used in the same fashion for a short position.
Example 3: The Kumo Twist
In a trend, a Kumo Twist can signal a potential trend reversal. Look for the Senkou Span A to cross above or below the Senkou Span B within the cloud. This twist can confirm a shift in market sentiment. Traders can enter a position when the twist is confirmed, placing a stop loss above or below the cloud or the recent swing high/low. I think of the Kumo twists and subsequent clouds as a trend filter. Placing longs on the bullish side or shorts on the bearish side, however, some traders use the Ichimoku Cloud in a contrarian fashion. Contrarian trades can be profitable using this method as price tends to pull back to the clouds A or B span where support or resistance may lie.
Pitfalls and Challenges: Avoiding Common Mistakes
While the Ichimoku Cloud is a powerful tool, it is paramount to be aware of potential pitfalls. Here are a few challenges to navigate:
False Signals and Choppy Market Conditions
In ranging or volatile markets, cloud signals may generate false indications. During such periods combine the Ichimoku Cloud with other technical indicators or wait until the market picks a direction.
Moving out to higher time frames can help clear the murkiness of consolidation phases and provide a clearer picture of the trend, in turn, weeding out false signals.
Overcomplicating Analysis
The Ichimoku Cloud provides a wealth of information, but it's crucial to maintain simplicity and focus. Avoid overcrowding the chart with an abundance of indicators, especially other overlays. It is easy to get lost in the sauce or run into redundancies with too much on the chart.
Testing and Adapting
Each market has its characteristics or volatility, and it's essential to backtest the Ichimoku Cloud strategy, experiment with different parameters, and adapt to market conditions over time. Many traders rely on the standard settings, but in my time developing trading algorithms, I have learned that those settings do not hold from market to market or consistently over time. It is critical to regularly revisit your settings or overall trading strategy to make sure you are drawing on the best available information the Ichimoku Cloud can give.
Enhancing the Ichimoku Cloud Strategy
To enhance your understanding and utilization of the Ichimoku Cloud, consider the following:
Incorporating Other Technical Indicators
Combining the Ichimoku Cloud with other indicators, such as oscillators, to confirm signals can be beneficial. I know I said not to over-clutter your chart with other indicators, but that is a rule of thumb more set for overlays.
Timeframe Considerations
Adapt the Ichimoku Cloud to different timeframes based on your trading style. Higher time frames may provide more reliable signals, while lower timeframes may offer shorter-term opportunities. I don’t believe it ever hurts to back out a few time frames to get a clear picture of market dynamics and avoid tunnel vision.
Conclusion
The Ichimoku Cloud is a versatile indicator, and today we scratched the surface of how it can be appropriately used. Remember, practice, patience, and continuous learning are critical for refining your skills and adapting the Ichimoku Cloud strategy to ever-evolving market conditions. If there is anything unclear or you have any questions, please don’t hesitate to comment below. Trading education is our passion, and we are happy to help. Happy trading! :)
NQ Power Range Report with FIB Ext - 6/30/2023 SessionCME_MINI:NQU2023
- PR High: 15111.50
- PR Low: 15098.75
- NZ Spread: 28.75
08:30 – Core PCE Price Index
Last trading day of the month
- U.S. Holiday next week
Maintaining Wednesday's range
- low NZ spread on relatively normal volume
Evening Stats (As of 1:15 AM)
- Weekend Gap: N/A
- Session Open ATR: 228.86
- Volume: 20K
- Open Int: 248K
- Trend Grade: Neutral
- From ATH: -9.7% (Rounded)
Key Levels (Rounded - Think of these as ranges)
- Long: 15533
- Mid: 15247
- Short: 14675
Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
Bond Yield Inversion vs. SPXThis is nothing new, really. People who have been in markets long enough know that when short term bond yields (3 month and 2 year, for example) come up to meet and invert to a higher yield than longer term bonds (like the 10 year, 30 year etc) that it often precedes a large market sell off as well as a recession that affects most everyone, not just stock prices.
On this graph, I maybe got a little carried away. I have the 1 month, 3 month, 1 year, 2 year, 10 year and 30 year as well as the actual Fed Funds rate with SPX in the background.
This goes back to the mid 1990s, you can see the dotcom boom, you see the yields invert, SPX tops and then takes near 3 years to finally find bottom before reversing course.
Unfortunately for long only stock holders, the treasury yields started to climb with stocks as well until they inverted in 2007 once more. Stocks started to come down, and, well, then 2008 happened...
You can see that in general, the fed funds and the shorter term yields find a plateau at their top, tend to stay there for awhile (sometimes for a whole year), then as they start to come back down, the stock market tends to be near its highs, and then the stock market starts to come down.
Big money tends to see higher treasury yields as a safer haven for their money than stocks at this point. If you have the ability to hold the treasury to expiration, you're guaranteed to get 100% of the money back plus whatever the yield % was at time of purchase as interest paid to you by the government.
Furthermore, there is an inverse relationship between bond yield percentage going up, and the value of bonds on the open market. As yields go up, the value of bonds goes down. Vice versa, as yields start to retract, bond values go up. So, there is high incentive to start buying a lot of bonds as the rates plateau near the top. Maybe some of these large hedges start to sell some equities as a hedge and buy more bonds as we get to that point. Rebalance their portfolio to be more bond-heavy.
Higher short term yields, higher fed funds rate also generally mean that the cost to borrow money for anyone is higher. Higher interest rates means more money out of the pocket of anyone borrowing to pay interest. Bonds themselves are just government debt.
The stock market is generally forward looking, so it's often making moves in response to moves in the bond market before main street really starts to feel the effects of the tightening in a meaningful sense. As time has gone on, it seems the market is reacting earlier and earlier to rate hike cycles.
Take 2018 for example, the yields didn't really invert until they all were already on their way back down. 2018 had volmeggedon to deal with to start the year, then came back, set a new high, then had a very rough second half of the year as bond yields plateaued. But, as the market saw that this small rate hike cycle didn't do any meaningful harm to the economy and started retracting, stocks took off again:
Then COVID happened, yields plummet, cost to borrow was as cheap as it ever has been, the government pumped money everywhere to try and prevent a complete collapse of everything, stocks were off to the races harder than ever before after finding bottom just a few weeks into the pandemic.
But, mentioning the market kind-of getting ahead of itself again, we had all of 2022, as it became apparent that inflation was now raging and bigger rate hikes than we've seen since the Great Financial Crisis would be necessary, the stock market sold off despite the economy still showing very solid recovery out of the pandemic.
But now, treasury yields are still climbing, but so are stocks. Treasuries hit a little hiccup in March as a couple regional banks were found to be overlevered in treasuries that had too low of a yield, and as more people began withdrawing money and those banks needed liquidity, they had to sell those treasuries at a loss. If they didn't have to come up with that liquidity and were able to allow those treasuries to mature, they make that small percent of interest for holding them. But because they were forced to sell them as treasury values were at a low because they had inadequate liquidity to cover deposits being withdrawn.
But, now maybe surprisingly, despite some of the troubles and the market sell off for most of 2022, we're now not all that far off of CBOE:SPX 's highs from the end of 2021, start of 2022. But, we still don't know what the full effect of the current high interest rates are going to be. It's possible the old mechanism where when we finally reach the top for interest rates, right as we get the precipice of rates starting to fall, equities top out and start to sell off shortly thereafter again. For how big and how long? Who knows.
Despite the recent 'skip' from the federal reserve, opting to not hike at the June meeting, the 3 month yield, which typically is what most closely matches/leads what the fed is going to hike to, has in recent days made it look increasingly likely that we see at least a quarter point hike for July. The market probably won't like that news, maybe we get a few red days, but if economy data coming in still looks solid and inflation is showing a slow, steady reduction, it may not be long before the market decides to go back up again. We might even go past the 2021/early 2022 highs this year.
But, eventually, we'll find the top for yields, and I have a feeling a bigger correction for stocks will loom at that point. For right now, seems like a bad idea to go against the bulls. But, keep an eye out for when we finally reach the top in treasury yields, look in particular for the 3 month, fed funds and the 2 year to go sideways. Once all 3 start to go down, pay closer attention to economic data coming in. Also take a look at www.tradingview.com for evidence of lower highs off the lowest point for the current cycle. You see the combination of the two, we may be in for a big correction. Again.
NQ Power Range Report with FIB Ext - 6/29/2023 SessionCME_MINI:NQU2023
- PR High: 15184.75
- PR Low: 15155.25
- NZ Spread: 66.0
Economic Events:
02:30 – Fed Chair Powell Speaks
08:30 – GDP
- Initial Jobless Claims
10:00 – Pending Home Sales
Evening Stats (As of 12:35 AM)
- Weekend Gap: N/A
- Session Open ATR: 233.68
- Volume: 19K
- Open Int: 251K
- Trend Grade: Neutral
- From ATH: -9.4% (Rounded)
Key Levels (Rounded - Think of these as ranges)
- Long: 15533
- Mid: 15247
- Short: 14675
Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
EURUSDEURUSD:
On daily profile EURUSD looks week/Bearish.
Recently we see a daily candle up because we have unfulfilled Fair value gap above so it was successfully filled and price got a rejection from there.
So we have a strong probability to short on EURUSD pair.
My targets would be marked on my chart.
Better to not rush but go through the process and look for short setups on smaller timeframe.
ETHUSD is ranging or coilingWe should be expecting a larger move coming up. Right now ETH is just stable and ranging. The longer it does this, the bigger the move we can expect. Volatility Premium has not moved much but keeps fluctuating between barely premium and discount. when the market state changed to slippy, we broke out of the range a bit but eventually buyers stepped in and brought price back into this range were in on the next day. Anytime we get a big move down near the LERR line, volume increases and we get a big move in volatility premium thats when we add to our ETH bags. Incrementally of course
SOXS Bearish Leveraged semi-conductors ETFNVDA turned down today while SOXS rose a bit. On the 30 minute chart is shown to have
have been trending down but then reversed in the after-hours trading period albeit with
the low volumes typical of after-hours. The relative volatility indicator however showed
a dramatic reversal and will be beyond the moving average within the indicator.
Overall, I see this as a day trade for June 27th. I have marked out a tight stop loss to minimize
risk. This trade which I will enter in the premarket is expectant for 8-9% profit and so
a reward to risk of 15:1
NQ Power Range Report with FIB Ext - 6/28/2023 SessionCME_MINI:NQU2023
- PR High: 15092.75
- PR Low: 15052.00
- NZ Spread: 91.25
Powell at RTH Open
09:30 – Fed Chair Powell Speaks
10:30 – Crude Oil Inventories
Strong inventory response off Monday's low
- Complete retrace of Monday's range
- Currently ranging about 40% from Tuesday's high
- Wide NZ spread
Evening Stats (As of 12:05 AM)
- Weekend Gap: N/A
- Session Open ATR: 238.26
- Volume: 29K
- Open Int: 253K
- Trend Grade: Neutral
- From ATH: -10.2% (Rounded)
Key Levels (Rounded - Think of these as ranges)
- Long: 15533
- Mid: 15247
- Short: 14675
Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
BOIL Day Trade Recap and ReviewBOIL the 3x Leveraged ETF of natural gas futures has been highly volatile. Volatility yields high
profits if there are good entries and trade management. This past Friday BOIL was doing a
reverse split ( 20 shares become one) which I considered to be an opportunity for high profit
because a higher number of traders would have eyes on the chart.
The 15-minute chart is shown here with an anchored VWAP from 2 days earlier. At market open
price reversed a downtrend after the reverse split in the premarket. It got support from the line
one standard deviation below the mean VWAP. My first considered entry was the second green
HA candle in the reversal with a stop loss at the pivot low of the red candles. However
I passed on this entry and instead entered upon price crossing the mean VWAP. The entry
was supported by the indicators showing Z score and volatility. The entry was made more
precise by analysis on the 5-minute chart. The stop loss was set at the value of the close of the
last candle to close below VWAP. After that, trade management was routine. Every time
price went up 1% I raised the stop loss by the same amount until getting up 6% Once at that
level, I changed to a trailing stop loss of 2% so I could pay attention to other trading chores.
At the same time, I set an alert for when the price crossed to above two standard deviations
above the mean anchored VWAP. I did this because this is the overvalued overbought area
where institutional traders will set sell orders either short selling or closing profitable
trades. The resultant reversal would diminish my unrealized profits. In this case, I got
the alert and closed the position without the trailing loss. The trade resulted in a profit
of 12% without use of leverage or margin other than the leverage imbedded in BOIL inself.
NQ Power Range Report with FIB Ext - 6/27/2023 SessionCME_MINI:NQU2023
- PR High: 14883.00
- PR Low: 14862.50
- NZ Spread: 46.0
Prev week's low broken
- Inventory of PR-Low
Economic Events
08:00 – Building Permits
08:30 – Core Durable Goods Orders
10:00 – CB Consumer Confidence
- New Home Sales
Evening Stats (As of 1:05 AM)
- Weekend Gap: N/A
- Session Open ATR: 234.85
- Volume: 22K
- Open Int: 252K
- Trend Grade: Neutral
- From ATH: -11.2% (Rounded)
Key Levels (Rounded - Think of these as ranges)
- Long: 15533
- Mid: 15247
- Short: 14675
Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.