Friday's Auction
As noted in Fri's analysis, focus on
response to 46.30s-46.70s was key in Mon's auction as selling interest drove
price lower, achieving a Stopping Point Low, 45.33s. Buying interest entered
there, driving price higher toward last week's Key Structural Resistance,
47.50s. Focus on response to Key Supply Cluster, 47s-47.50s, into Tue's
auction.
Monday's Micro-Blog Excerpt
Monday's Micro-Blog Excerpt
via The Daily
Noted here during Mon's auction
(highlighted in yellow)
- The clearing of stops early in the NY auction above 46.35s with increasing Net Buyside Delta.
- Key Upside Reference Levels including 46.97s (Fri's Upper HVN) and 47.44s (Fri's High).
- Following the stop clearing, entry of initiative buy programs (IBP) at/near 46.40s-46.50s and expectation for price discovery higher.
- Price discovery higher toward Friday's Upper HVN. Ultimately, the market achieved a Stopping Point High at/near Fri's High, Key Structural Resistance.
