On Friday here the SPX closed at 4019.87 or +1.18% on the day on moderately strong advance decline lines but mildly strong volume ratio. The NDX was up strongly and through its 50-day average and a prominent retracement of recent lows while the SPX was over 4000 pretty early ahead of our three-day weekend.
After running to near daily highs on lighter than usual volume, the ES profile had a series of poor highs, or multiple brushes against the high on moderately positive NYSE internals. It was a slow afternoon. Then the point of control (area of fairest price) moved higher to 4001.25 in the last hour, and in the last ten minutes of the cash session, ES ran to around 4010 and SPX to 4020.00 on a small NYSE closing buy imbalance of +648M. ES settled at 4014. Today's single prints start at 4004.25 so that is the area traders will watch on Sunday night and Monday AM here. It is a small string of single prints compared to last Friday's, but probably still worth watching. Will explain further after brain is alive again.
Good on you @Malaga. I do not like to see summer end, but the conditions this time of year in WA are beyond spectacular. Good visibility on top and under the water, perfect temperature and the ride to the islands is easy on the knees. Such a unique paradise. It is going to freeze here for the next few nights, but fortunately most of the tree buds are not open yet so hopefully not much damage in this area at least but not sure about other places. Everyone will be covering up their plants and flowers this weekend.
