What cheeky little things they are [ATTACH]

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Diver Dan

1,889 Posts.

1023

12/08/19

22:44

Post #: 39969133
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Originally posted by Diver Dan ↑

Originally posted by Diver Dan ↑

It is clearer now that Thursday's US session was comprised of substantial short covering. Friday's action was an attempt to balance that out and tonight's low volume futures session is a follow on amid tepid risk barometers like the Yen pairs and bond yields.

Per the SPX cash session, the thickest early week support is around 2900 followed by 2870 and the most prominent safety support is still 2850. 2892 is a bit unique to the futures profile as it is central to the early June balance and the tail end of this past Thursday's RTH session. Assuming cash price over 2930, the early resistance points this week are 2950 and 2960. Broad swaths are of little use to a tick trader and in the absence of mitigating factors like a tweet or something, SPX 2925 is the center of attention for tomorrow's cash session as of Friday's close - assuming everyone stays sane and stable

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It is clearer now that Thursday's US session was comprised of substantial short covering. Friday's action was an attempt to balance that out and tonight's low volume futures session is a follow on amid tepid risk barometers like the Yen pairs and bond yields.

Per the SPX cash session, the thickest early week support is around 2900 followed by 2870 and the most prominent safety support is still 2850. 2892 is a bit unique to the futures profile as it is central to the early June balance and the tail end of this past Thursday's RTH session. Assuming cash price over 2930, the early resistance points this week are 2950 and 2960. Broad swaths are of little use to a tick trader and in the absence of mitigating factors like a tweet or something, SPX 2925 is the center of attention for tomorrow's cash session as of Friday's close - assuming everyone stays sane and stable

View attachment 1690499

Expand

What cheeky little things they are

XAO Value at posting: 6,670.1
5 Upvote

0 Great analysis

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