Well what looked to be a short squeeze early ended up being a hailed break of the previous day high in the ES and NQ and drop right back down into previous day value. ES made an attempt at the yearly low but was 1 tick above before it rallied back to the open. NQ just never got on board with the sell and the ES is not going anywhere without the NQ. My thoughts are the market is waiting J Powell tomorrow along with a bunch of other news. Here is the lineup for the news events tomorrow…
So as you can see there is a lot on deck which could pause the markets and hold for direction.
Also AAPL and TSLA were strong today as well as MSFT, AMZN and GOOG while NFLX, NVDA and META were all red on the cash session.
Right from the start most everyone in The Pit felt the market was not nearly as strong as it appeared to be. We were right and many of us caught shorts to help pad the day.
Personally I took home 38.75 pts in the NQ and 7.5 pts in the ES. Hit my goal and avoided the chop at the end of the day. So nice start to the week.