Premarket Insight

As I’m getting into today’s premarket research I’m reminded why, as a society, so many of us suffer from anxiety. Headlines do a complete reverse from yesterday’s selloff “warning” by giving bullish sentiment today. These articles are all over the place at the turn of each day. Before I go off into a rant, yes there is bullish activity so far in today’s futures session for the broader markets. However, it’s less than a 50% retrace from yesterday’s selloff. Completely normal price action. We cannot expect the market to drop straight down or shoot straight up without some retracement.

On another note, another day of major earnings that should give the S&P 500 some volatility. Amazon, Twitter, America Airlines and many more are set to release their earnings today. Plus, Economic Calendar showing two significant events at 08:30 and 10:00 EST.

Premarket volume check showing another day of strength with NQZ18, CLZ18 and GCZ18 above the 100K mark. Crude oil futures experiencing a nice bull run that started in the Euro session. Gold and Euro forex futures pretty much trading sideways. As of this writing, 6E seems to be opening up to the long side.

Stay calm, plan the trade, and trade the plan.

COB Recap

Total Profit $440

• TST = $440
• AMP = $0 (no trades) – testing automated trading system

For real-time insights follow me on Twitter! @Mv3Trader

Comment below with your opinions and questions.

Rob

Mv3 Trader

“Trade Consciously”

Premarket Insight

Another busy day in this busy week of earnings, headlines over-reacting to premarket selling. The daily candle Nasdaq futures from yesterday shows a lot of buying pressure keeping it from dropping lower for the moment. Key area to watch is 6950 that could lead to another big move bearish. As of right now, things still seem bullish. Also, eyes will be on home sales and crude inventory as scheduled on the Economic Outlook.

Premarket volume check showing another day of premarket strength. NQZ18, CLZ18, and 6EZ18 are well beyond the 100K of volume mark. CL starting to turn bullish after trading sideways in the after-hours. In a bit of divergent, GC starting to head bearish, following 6E which started its bearish run in the European market hours. NQ currently retesting the open of today’s futures session.

COB Recap

Total Profit $15

• TST $15
• AMP $0 (no trades)

For real-time insights follow me on Twitter! @Mv3Trader

Comment below with your opinions and questions.

Rob

Mv3 Trader

“Trade Consciously”

Premarket Insight

Looks like I was off in my market analysis yesterday. Exactly why we have to stay prepared for anything the market gives. This morning we are seeing some heavy selloff in all indices since the open of today’s futures session. Nasdaq futures has broken the support of the 200 SMA.

However, this is not the first time NQ’s price has been in this area since October’s selloff started. In my opinion, key area to watch for bearish confirmation 6990 – 6910. Along with the bear party, the market will also be watching earnings today from major names such as McDonalds and Caterpillar.

Premarket volume check showing a ton of strength to go along with all the selloff. Everything on my watchlist, NQZ18, CLZ18, GCZ18, and 6EZ18, well above the 100K volume market. GC has been the biggest mover up +1.30%, more than likely as a result of hedging strategies from the bearish sentiment in the market. CL joining the selloff party down more than 2.0%. 6E taking a neutral stance just trading sideways in a range that seems to be widening bullish.

COB Recap

Total Profit $405

• TST = $405
• AMP = $0 (no trades)

For real-time insights follow me on Twitter! @Mv3Trader

Comment below with your opinions and questions.

Rob

Mv3 Trader

“Trade Consciously”