Posts by Rod David
Look ahead: Economic Calendar – for Mon Apr 13 2015
A midday look ahead in preparation for economic reports and events scheduled for the next trading day.
Highlights:
A very slow week for economic reports begins appropriately with no reports, at all.
3-Month Bill Auction
11:30 AM ET
6-Month Bill Auction
11:30 AM ET
The chaRTroom just rebooted unilaterally.
The chaRTroom just rebooted unilaterally. Please contact me ASAP if you”re having difficulty logging back in, thanks!
Afternoon bias
| FRI afternoon signal (triggered at 1:20 ET) | SPX | ES |
| Bias-up: above | 2101.75 | 2095.00 |
| …would target | 2107.50 | 2100.75 |
| Bias-down: under | 2095.00 | 2088.25 |
| …would target | 2090.25 | 2083.50 |
| Signal status: NO-BIAS | FAQ | |
| INTRO VIDEOS #1 and #2 | ||
1. At 1:20, trading above the bias-up signal or under the bias-down signal would put into play a test of its bias-up or bias-down target.
2. Not triggering either bias signal at 1:20 would be “no-bias,” and the bias signals should define the bias environment”s range.
— A test of the opposite bias signal would be targeted if one bias signal was tested before triggering no-bias.
3. Touching the bias signal within 3 minutes either way of 1:20 would invoke a grace period through 1:30 to trigger a late signal.
— “Late” signals don”t require testing the opposite bias signal, but it”s still likely.
4. Still testing the bias signal at 1:30 after invoking the grace period would trigger “noN-bias,” with no bias influence.
Post-open review… Better late than never.
Verrry sloooow to resume the rally.
The pre-open surge may have been no more than a reaction to GE”s buyback announcement. Regardless, dipping into and out of the open reacted back down to 2084.50.
That”s back under yesterday”s 2087.00 high, so trending back up would have to be the product of new sponsorship. In fact, fresh highs are being probed now up to 2093.25.
But the fresh high”s new sponsorship is only weak-handed, because the 2089.00 bias-up signal triggered “noN-bias” (being overlapped at 10:15, and at 10:30). A bias objective isn”t attracting price higher, and won”t inhibit reversing down.
Yesterday”s late breakout was sponsored by weak hands, too. So, the path need not be down, but extending higher can be choppy. If not for the weekend”s impending illiquidity, sellers might not be so patient. But reversing into negative territory will be unlikely if the bias environment”s exit at 11:30 isn”t already trying to break back under yesterday”s high.
The Globex session”s late strength
The Globex session”s late strength has retraced back down to yesterday”s highs. If the initial pop was only in sympathy with GE”s buyback announcement, then the rubber band will snap back down through the open. Extending the rally requires attracting new sponsorship… fast. Here”s the pre-market Tour recording:
https://roddavid10.mitel-nhwc.com/join/hthhpvv