I started pulling levels with ES at 7648 and it is 7600.50 by the time I am writing the opener, which is a fun way to find out you get to redo the whole thing. NQ is worse, out the bottom of two different value areas before six in the morning, and gold went with them instead of catching the bid it is supposed to catch. Crude took out 100 overnight and there is no profile above it at all. I lean short NQ while 29155.50 caps it and I want 29268.25 back before I trust a single thing on the long side.
The Tape
ES is 7600.50, a few ticks off the 7597.75 low it just printed, and it has taken 7618.50 out, the price September and last week both put their low on. That level went in one move off 7666.25 with nothing stopping it on the way, which is what a market leaving looks like. The reoffer zone is 7619.25 to 7633.25, the overnight value low under September’s, and sellers took that band apart an hour ago, so assume they are still standing there. The line that ends this is 7644, last week’s value floor with yesterday’s close on it, and until that trades,
