Today, I took the day off to tend to some family matters. The following is a post day review of some of what went down.
On the big picture front, Trump is continuing to pick out his cabinet and pundits are making forecasts....
MP ACTION
- NQ IS DEMONSTRATING A RELUCTANCE TO REMAIN IN THE SWAMP
- YET NQ IS DEMONSTRATING THE BARNACLE ISLAND AS HEAVY RESISTANCE
- ES IS APPEARING TO FILL IN THE LVA BETWEEN POC #3 & #4
ES SPENT THE DAY FILLING IN THE NARROW LVA BETWEEN POC #3 & POC #4
NQ SPENT THE ENTIRE DAY FILLING IN THE LVA BENEATH THE BARNACLE ISLAND POC
VOLUME ACTION
- EOD VOLUME AT PRE ELECTION LEVELS
VOLUME ACTION - 10 DAY OBV SHOWS INCREASING LONG POSITIONS
PRICE ACTION
- (BREAKOUT ALERT) ES INSIDE ACTION
- (BREAKOUT ALERT) NQ STAIRSTEPS ONE LEVEL HIGH
I believe we are in a hunkering in period
Commitment of Traders
ES
- Fascinating…. Entering into the elections, practically everybody was flat
- Immediately after the elections, Asset Managers Bought and the Dealers unloaded
NQ
- Large speculators continuing to go long
- Dealers continually selling (towards the top)
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