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”

Premarket Insight

The bulls are back in town to start off the week. Nasdaq Futures up almost 1% coming into the premarket with a nice steady climb since the open of today’s futures session. Analysts are hopeful of this climb will continue. This move has support from the daily 200 SMA.

Also, another important week for Q3 earning season, many major companies will be reporting this week to include Amazon, Ford, AMD, Twitter, Visa and much more. With such a busy week for earnings, sporadic volatility should be expected.

Volume check showing a ton of strength to the start of this week. NQZ18 and CLZ18 both passed the 100K mark with ease early. While GC and 6E are still below 100K of volume, they are not void of volatility. So far, GC is trading bearish while 6E has made about 0.30% moves in both directions, but currently trending bearish. CL showing a similar sideways trend with volatility.

COB Recap

Total Profit $20

• TST = $20
• 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”