Good Morning and Happy Hump Day. This am Wednesday gave us four charts sitting on decision levels before most people found breakfast, which is better than pretending I know what happens next. ES is a reaction trade between 7762.25 and 7774.50. NQ gets the same treatment at 29770 below and 29842.50 above. Crude has to escape 99.68 to 99.89 before it earns an opinion, and gold has to hold 4143.10 or take 4149.80. I came in looking at my proprietary very secret levels, not a horoscope. But I also barely know what I am doing.
The Tape
ES is 7769.50, sitting just over the 7768 overnight value floor and under Tuesday’s 7774.50 ceiling, so this is a decision spot with almost no room for theater. Tuesday was a rotation day around 7754.50, while the night pushed to 7793 and handed most of the move back. Buyers still have the higher overn
