As of 07:45 EST Nasdaq is still bouncing around in the inside day candle of yesterday. We are still watching for a break in any direction for the next short-term trend. Looking at indicators, support for this bounce is being held up by the 5-minute VWAP.
On another note, market will be watching job report to be released at 10:00 EST as indicated on the Economic Outlook calendar. That plus more major earnings today from Netflix, Goldman Sachs, Johnson & Johnson, plus more. Should be another day of wild volatile action.
Premarket volume check showing moderate strength with CLEX over the 100K market, with NQZ18 and GCZ18 close behind. GC and 6E trading sideways. CL got off to a strong bearish start in the European hours. As I’m writing this, NQ has made a choppy new HOD.
European market continues selloff for the Nasdaq, as well as their currency, for the futures session. NQ has seen a drop of more than 0.60% in the premarket while traders show interest in what Fed speakers have to say throughout the day in terms of inflation trends. However, market watchers are only expecting moderate volatility in the market from Fed talk. Check investing.com for details.
Daily volume check showing decent strength in the premarket. As of 08:00 CLX18 and 6EZ18 has surpassed 100K volume market with GCZ18 looking to cross the line soon at 97K. Other than the bearish sentiment for NQ and 6E, GC trading neutral while CL coming into a rest following a bullish run from the open of today’s futures session.
Happy Monday! No change over the weekend for Nasdaq Futures. After a bit of sideways action (or lack thereof) we see selloff continue in the European market hours before bouncing back to the 5-minute VWAP in the premarket.
As for the economic outlook not much scheduled for the week, however this week kicks off the Q3 earnings season. JP Morgan will be the first major company to release earnings Friday. Interested to see what this earnings season brings as Q2 earnings season came with a suppression of volatility.
Volume check showing some strength to kick off the week with GCZ18 and CLX18 above 100K by 08:00 EST. CL trading slightly bearish so far while GC already down by 1.09%. Euro futures experiencing a similar selloff as Gold futures.