Wednesday's Auction
via The Daily
As noted in Wed's analysis, focus in Thu's auction on response to
Wed's Buy Spike was key as selling interest emerged during the Globex auction
near the Spike High, driving price lower toward Wed's Upper Cluster Low. Buying
interest entered there, driving price back higher through the developing Trade
Cluster, 55s-56.70s. Focus on response to Key Structural Resistance, 56.70s,
into Fri's auction.
Thursday's Micro-Blog Excerpt
via The Daily
Noted here during Thu's auction
(highlighted in yellow)
- Balance development, 55.95s-55.20s, during the NY auction, began developing a D shape structure, implying the increasing potential for directional activity.
- Following the D shape, initiative buy programs entered at/near 55.65s-55.70s, and thus the expectation for price discovery higher.
- Key upside reference levels including Wed's Buy Spike High, 56.70s. Ultimately, price discovery higher toward Wed's Sell Spike developed ahead of the NY close with stop clearing up to 57.42s.
