False Fall is coming to North Texas, meaning the pumpkin candle is lit my server rack is heating the office to a brisk 85 degrees. Meanwhile, Today ES has to settle the 7869 to 7872.25 argument, and NQ has to own 30770. Crude needs 94.70 held before it takes 95.30, and gold gets judged at 4169.70. Four charts sitting on four decisions before breakfast. Very proprietary stuff. As one of my favorite females in trading twitter said “nicks…a tinkerer.”
The Tape
ES is 7869.75, pinned between October’s 7869 ceiling and the 7870 week high, which is about as subtle as a brick through a window. Tuesday rotated and closed 7856, then the overnight walked higher and built nearly all its value from 7862.25 to 7873.25. That is the whole argument at the 7872.25 overnight print, with price under it and last week’s value ceiling at 7866.75 underneath. Acceptance over 7872.25 puts 7874.25 in play, then 7879.75 where an earlier October session built its print. Lose 7869 and the auction falls back through 7866.75 toward Tuesday’s high at 7863.25.
