Things calm down a bit this week as we wind down earning season. However, there is still plenty activity to cause a stir in the markets. More Fed action with crude inventories on Wednesday and retail sales on Thursday. Stay tuned to the Economic Outlook for times. Also, headlines Alibaba may draw in significant attention from traders from their record day of sales.
Premarket volume check shows moderate strength with CLZ18 and 6EZ18 over 100k of volume before 07:00 EST. Crude oil gapped up over the weekend on Saudi news and seeing strong support at 60.56. As of this writing, NQ is retesting its open after retracing the bullish pop in Asian market hours. Looks to be trying to head lower. Key area to watch is Friday’s low of 6989. Euro Fx futures also seeing a bit of selloff while Gold futures trade slightly bearish to neutral.
Stay calm, plan the trade, and trade the plan.
No trades… again. ?
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