Wednesday's Auction
As noted in Wed's analysis, focus on
response to 52.50s was key in Thu's auction as selling interest drove price
lower toward the Daily 1st Std Dev Low where buying interest entered, driving
the market aggressively higher toward the Key Breakdown Area/Prior Support,
52.40s. Focus on response to the Selling Tail, 52.70s-52.05s, into Fri's
auction.
Thursday's Micro-Blog Excerpt
via The Daily
Noted here (highlighted in yellow) during Thu's auction was the Globex development of the Gap Lower open and its implication of lower prices into the NY auction based on the market generated data. Initiative sell programs (ISP) entered at/near 50.60s-50.55s, within this context, driving price lower, achieving the Stopping Point Low, 49.81s, near our Daily 1st Std Dev Low expectation. This level offered asymmetric potential as support, based on the market generated data. Responsive buy programs (RBP) entered, confirming the support, developing a Structural Buying Tail, 49.80s-50.05s, implying the potential for price discovery higher in short covering inventory adjustment. Initiative buy programs (IBP) entered, ultimately driving price higher toward the prior overhead Supply Cluster, 52.60s-53.30s.
via The Daily
Noted here (highlighted in yellow) during Thu's auction was the Globex development of the Gap Lower open and its implication of lower prices into the NY auction based on the market generated data. Initiative sell programs (ISP) entered at/near 50.60s-50.55s, within this context, driving price lower, achieving the Stopping Point Low, 49.81s, near our Daily 1st Std Dev Low expectation. This level offered asymmetric potential as support, based on the market generated data. Responsive buy programs (RBP) entered, confirming the support, developing a Structural Buying Tail, 49.80s-50.05s, implying the potential for price discovery higher in short covering inventory adjustment. Initiative buy programs (IBP) entered, ultimately driving price higher toward the prior overhead Supply Cluster, 52.60s-53.30s.