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)
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Comment below with your opinions and questions.
Rob
Mv3 Trader
“Trade Consciously”
