Friday's Auction
via The Daily As noted in Fri's analysis, focus into Mon's auction on response to the Breakout Area, 58.20s-58.60s, was key as buying interest entered there during both Globex and NY auctions as rotational trade developed within the context of sideways Value. Focus into Tue's auction on developing Balance and the current unsecured high.
Monday's Micro-Blog Excerpt
via The Daily
As noted during Mon's auction
(highlighted in yellow)
- Following initiative sell programs (ISP) at/near 58.70s-58.65s, the expectation was for price discovery lower.
- Key downside reference levels included Fri's Low, 58.32s.
- Following poor sellside facilitation lower, responsive buy programs (RBP) entered at/near 58.50s as the Sellside became short in the hole, implying the potential for short covering inventory adjustment.
- Ultimately, price discovery higher unfolded toward 59.10s as the understanding of structural development of the market provided the insight to adjust expectation as new market inputs develop.
