July ends today and the last three sessions have been the whole month compressed into a corner. NQ printed the month’s low Wednesday at 27201.50 and it trades 28489.25 this morning. ES is firmly back into its old ATH balance range. Yay? Meanwhile Jassy and Amazon put up thirty-seven percent growth on the cloud business after the bell and the overnight bought everything attached to a data center. Tim Apple reported his final quarter as CEO with a beat, guided soft. It got sold and at 6am nobody appears to care. I lean with the hold of balance while the indexes stay above the shelf the night built, and I will say out loud that I have no idea what the last session of a month like this one does into the close. With it being EOM I am sure nothing really stupid will happen in the last 30 minutes or so. Be safe. Definitely a power hour better spent outside starting your weekend.
The Tape
ES ran a trend up day Thursday, opening 7414.50 and closing 7473 near the top of the range on a 7439.75 POC with value 7399.75 to 7450. The overnight opened 7479.50, clear of every bit of it, based at 7468, and pushed 7517.75 before easing off. It trades 7491.50 now, a hair under the 7494.75 floor of the night’s value and under the 7500.16 line the session has traded around since the open. Accept back over 7494.75 and the push reads 7507.50 the night’s POC, then 7511.75 its ceiling and 7517.75 the overnight high, with 7524.75 the week high. Lose 7494.75 and 7478.50 yesterday’s high catches it first, then 7472 the week’s lid sitting right on 7470.50 where July’s value ends, with 7450 yesterday’s ceiling under that pair.
