canaussieuck
Member
- Messages
- 50
- Likes
- 0
Summary of what happened
Well we've had a good run...two words come to mind today RISK OFF...and another two, BANK RUN
We made a new high, everything was ok, value was being accepted at 6500 after we forcefully rejected 6435.5.
Is the market in balance or out of balance?
The market was accepting value at 6500, possibly balancing there in a new bracket.
What could happen today?
We could auction higher.
At the time of writing various markets in Asia are down between .5-1.5% or so, CL is down 1.1% and the ES is down 1.35% There is almost no doubt that we will gap down. IF we somehow get back to 6456 and accept value there and find responsive buyers then we could have a hope of trading higher.
We could bracket
We could open between the Virgin POCs at 6380.5 and 6332 and just accept value there.
We could auction lower
If we find responsive sellers at 6380.5 then we could trade lower to 6332 to find value there.
This is going to be an interesting day.
Key levels – Top to bottom
6518
6509
6499
6476
6456
6435
6406.5
6380.5
6362.5
6332
Well we've had a good run...two words come to mind today RISK OFF...and another two, BANK RUN
We made a new high, everything was ok, value was being accepted at 6500 after we forcefully rejected 6435.5.
Is the market in balance or out of balance?
The market was accepting value at 6500, possibly balancing there in a new bracket.
What could happen today?
We could auction higher.
At the time of writing various markets in Asia are down between .5-1.5% or so, CL is down 1.1% and the ES is down 1.35% There is almost no doubt that we will gap down. IF we somehow get back to 6456 and accept value there and find responsive buyers then we could have a hope of trading higher.
We could bracket
We could open between the Virgin POCs at 6380.5 and 6332 and just accept value there.
We could auction lower
If we find responsive sellers at 6380.5 then we could trade lower to 6332 to find value there.
This is going to be an interesting day.
Key levels – Top to bottom
6518
6509
6499
6476
6456
6435
6406.5
6380.5
6362.5
6332
