Quick thoughts on the market.

Update: Posted at 1:01 CT

The market so far bounced off our daily pivot at 1214.50 and yesterdays POC.   Short of the single ticks from 1314.00 to 1313.25. The DJT still staying strong, maybe off the the news from CAT.  NQ and EURO weak. ES holding below our MA on our short term chart.

Posted at 9:07 CT.

Opening Range, first minute of trading, was the high of the day.  It was quickly taken out.  Brokers in the pit have been quitely  buying it on the way up. The thing that is really sticking in my mind today is that DTJ and DJIA are rallying together.  This is the first time we have had confluence in those markets and could lift the weight.

Financials are right at their upside target. DJT is near.  DJIA is above. EURO, NQ_F, and ES_F has a little more room to go.  We have a big area of resistance in the ES_F is in the lower 1330’s.  In the perfect scenario would like to see all the upside areas hit at the same time and DJIA stall.

Market Profile so far is balanced and we have some nice rotations going.

Housing numbers were weak, the market dipped.

 

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