Come in, the water is fine

Monica Kingsley Monicakingsley

S&P 500 rose premarket (similar to the way BTC did), tried to extend gains after the opening bell, and then fell almost in a straight line to the ES low 6,860s level, where the news of blessing for NVDA H200 chip sales to China came (as if they needed these chips, or soybeans, or other agrifoods they have stockpiled in high quantities already).

The rebound gave way, but institutional buying before the closing bell returned ES and NQ prices above these respective resistances in the closing minutes.

Is the water fine, or volatility metrics, amongst them main being the bond market one (that I cautioned clients better go Monday just sideways at worst, and it did actually resoundingly rise), are sounding a short-term alarm of exhaustion?

After all, Friday‘s pre-data point in NDX had not negligible odds of holding, and it failed in the opening part of yesterday‘s session resoundingly.

Author

Monica Kingsley

Monicakingsley

Monica Kingsley is a trader and financial analyst serving countless investors and traders since Feb 2020.

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