5600 would be the ultimate 'what the fuck is going on' print into the Close. Tomorrow is monthly op-ex.
Big picture, SPX is back above the monthly Open here. Leaving a huge wick behind. Definitely bit of an outlier move so far this week, but we have had like 50 or so that's even bigger on the week since 2005. So, nothing we haven't seen before.
That's another 30 points, so not unthinkable. That said, it looks to me we're going to range between 5550 and 5570 into the close. But hey, I just work here
My prediction calls for 2 % on the high print. 5585. But the path there may be tricky... I just figure that if we do hit 5585 they may just squeeze it another 15 points while they're at it.
Well, NQ is up almost 2.50%, so *on average* you already got your 2% Maybe we get a stop run, but to me this feels is running out of fuel for today.
2 % on ES. NQ is a beast of its own. Looking like a day which may close at the highs at the very last minute.
Monthlies don't carry the same weight as the triples, so it wouldn't matter that much. Anyway, these are the only pending announcements on the docket for tomorrow. Nothing heavy to move the market. Bears just might hijack the market in the absence of news. That said, will be holding my short overnight.