Market analysts pointing to yields and hedging strategies for yesterday’s strong selloff in the overall market. Technically, Nasdaq’s move made sense as it broke through the support created by Tuesday’s inside day candle, as I mentioned in yesterday’s premarket insight as a key area to look out for a big move. What was unexpected was the size and timing of the bearish free-fall. Contrary to popular belief, we a still in a bullish market until proven bearish. Expecting some volatile bouncing for the near future.
Volume check showing a ton of strength early, as expected following yesterday’s monster selloff. Before 07:00 EST, my entire watchlist (NQZ18, CLX18, GCZ18, 6EZ18) all well pass the 100K mark. NQ and CL pretty much trading sideways to kick off the premarket, while GC and 6E march bullish. Expecting more volatility in today’s session.
Core CPI and Crude Inventories on the Economic Outlook today, although not sure how much that can affect the market beyond what’s already moving the market.
Chances of the market dropping to zero – .0000000001% (LOL)
Total Loss $-70
- TST = $115
- AMP = $-185
Comment below with your opinions and questions.