After a small retracement of the selloff yesterday, Nasdaq Futures trade slightly bearish in the after-hours. As of 08:00 EST it’s more neutral in the premarket, still receiving some support from the daily 50 SMA. That could change soon with ADP and Unemployment rate coming at 08:30 EST as scheduled on the Economic Calendar.
My premarket volume check showing strength in Nasdaq and Crude Oil, with CLX19 above the 100K volume mark. CL starting to dip bearish but coming into support from yesterday based off the 5-minute chart. Euro futures look pretty much the same as CL and GC trending bullish.
Total Profit = $430
Forgot to mention in the video also paper traded for $750 in Sierra Trade.
The day following a ton of up-down volatility from indecision yesterday, as we can see from the doji candlestick on the daily chart, today’s futures session starts off slightly bearish for the Nasdaq. Headlines give selloff credit to lower Treasuries on higher yields for selloff in the overall markets. However, with the measuring being Nasdaq, Dow and S&P 500 Futures, as of 07:55 EST the selloff is moderate at best and all aforementioned indices have strong support with big picture trend still bullish to neutral.
Taking a look at the watchlist (NQ, CL, GC, 6E), other than the already mentioned bearish NQ, GC and 6E starting to open up bullish while CL continues to trade sideways in a tight 40 tick range. We get a break on the economic calendar today with nothing significant scheduled.
Volume check at 07:30 showing moderate strength in the premarket. Just another day, nothing special to see here. So far, 6EZ18 the only futures contract on my watchlist that’s above the 100K volume mark.
UPDATE: At of 08:00 EST CL broke intraday support with the potential to start a bearish trend.
Markets getting off to a slight bullish start, and according to headlines, Powell gets the credit for boosting confidence with his speech. Other than that, economic calendar showing somewhat of a busy day with ADP, PMI, and Crude Inventories in sight. Check Economic Outlook for details. NQ currently up 0.20% early in the Futures market session.
Volume check at 07:30 EST showing moderate strength. However, only 6EZ18 the only contract over 100K of volume with GCZ18 about 7K away from that mark. Not expecting much excitement from CL until after inventories report at 10:30 EST.
Another day of struggles in the morning session but the good thing is I was able to walk away with some profits today. Took a total of 6 trades, 5 in NQ and 1 in CL, for a total of $155 in the Topstep account. Also, took my first trade in my live account for the month for a $55 profit. Let’s hope this month gains some momentum sometime soon. Watch today’s recap below for details of my trades today.