Friday, September 16, 2016

20160916 - Friday Morning Assessment

OVERNIGHT ASSESSMENT
Overnight is in balance and trading close to yesterday’s settle - No Change.


AAPL is the rave with it’s new iPhone causing the NQ to jump out of synch higher compared to the ES.  Still, there remains a LVA the could be filled.   The ES, for balance purposes, could handle rallying one HVA higher.   


Next week is FOMC.   Thinking today will be the last day to  position in anticipation of any Fed action.


Looking at the new sceens:
Everything was quiet until Hong Kong closed.   ES migrating lower into yesterday’s value while NQ is being supported by the gap/LVA that needs filling.  This gap/LVA is 70 points across, a considerable and tradeable span. The ES has an LVA slightly above.   This makes for mixed movement...

Another scenario is that the ES continues to fill in the next level higher and the NQ (thanks to AAPL) creates all time highs. This would allow both markets to move somewhat in synch. Wouldn't that be fun!.


Prior Day Trend entering Today  - Rally in the afternoon, ended with a buying climax - Flat into the close
Multiple day look back necessary? - Yes, ES still in week long auction region. Watch for visual levels
  • -- Asian Profile - P
  • -- European Profiie - b


  • G. OVERNIGHT INVENTORY  from yesterday’s settle:is ___ Long ___ Short __x_ Neutral Approx 65%


  • H. ARE WE GOING TO OPEN IN OR OUT OF BALANCE AND TO WHAT DEGREE?
  • _x__ In ___ Out ___ Near extreme of balance



CARRY OVER CONCLUSIONS

Last Friday and Monday provided good rollover action.   This week was spent filling the span.   Today, there is some slight span remaining to be filled on the ES.   NQ appears to have moved high based on AAPL.   This creates an inbalance as the two markets are now out of synch - Gotta see how this pans out...


Next week is FOMC week - Get ready to hunker down..

This morning, we start with the In Balance Rules....