Monday, December 5, 2016

Price Action:   Nasdaq Futures, NQ E-Mini
  • Leading up to today, price was stuck above the 1 year Point of Control
  • Liquidate occurred coinciding with the Italian Referendum
  • 1 Year Point of Control held as support
  • Liquidation goal was the Levee zone where Global Bank buying entered
  • Price lifted the market during the overnight with little protest (excellent move)
  • Watch for 1 Year Point of Control to act as resistance.
Nasdaq Futures - (1 Year Point of Control, upper purple band)

Price Action:  S&P 500 Futures - ES E-Mini
  • Leading up to today, Thanksgiving volume near all time high
  • Market Maker Liquidated back to POC #3 coinciding with Italian Referendum (smoke screen)
  • Market Maker (Global Banks) halted liquidation at POC #3, bought contracts cheap
  • All loses were recovered via marking up during overnight with little protest
  • I believe this was by design (Not bad for a weekend/globex campaign)
  • Today, Price held filling in the LVA within the December Barnacle Field, which was also in the design

MP Action
  • ES and NQ rebounded from the Italian Referendum hit
  • ES did “NOT” close the gap
  • ES migrated away from POC #3
  • ES filling in December’s Barnacle field
  • ES Day Time Frame, moving higher
  • Taylor Trending has started Day #1 Long in both ES & NQ
  • Dow reached ATH
  • Expecting to remain in this area the next several days, barring any “news”

  • NQ put in a spike this morning and moved the auction back into the NQ 1 year POC
  • NQ settled at it’s POC - No excess spotted
  • NQ Day Time Frame, moving higher

  • Ruling reason, the market is presently in balance, Use Intraday trade rules