Monday's Auction
via The Daily
As noted in Mon's analysis, focus on
response to the unsecured low area, 55s-56s, was key in Tue's auction as
selling interest emerged at/near 55.55s, driving price lower, achieving the
Stopping Point Low, 53.60s, near the Daily 1st Std Dev Low. Despite the Gap
Lower open, responsive buying interest emerged in aggressive short covering
inventory, filling the Gap. A Structural Stopping Point Low, 53.60s, is
potentially in place. Focus on response to the low amidst the current Trade
Cluster, 53.60s-57.15s, into Wed's auction.
Tuesday's Micro-Blog Excerpt
via The Daily
Noted here during Tuesday's auction, that the market had achieved the Daily 1st Std Dev Low and based on current market generated data on a rolling 20day basis, there was an 85% probability that level hold as support, provided buying interest emerged there. Following clearing of Buy Stops below the Globex Low, responsive buy programs were noted, driving price higher toward our upside expectation, 56.40s (Mon's HVN)/ 57.58s (Tue's Avg Daily Range High).
