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Re-test of last Fridays low in the overnight session and than up into the ~89 region.
Used a retracement from overnight low to high and and watched the little ABCD (3min)
forming one hour pre-market to the downside.

Market hit the .500 retracement nearly to the tick and went up.

Marco,

Good concise summary of overnite, pre-open, & price action.

Al KAmego

Today has that 'runner' look to it. If it doesn't turn down in here, or stop, the odds go up that it explodes up from here and really moves.

So, watch this little 1.272 last bump up it just did, and let's see what it does. It wants to run, I can tell you that. But wow is it overextended. The pullback Friday afternoon, and the deep GLOBEX pullback, make the upmove a bit healthier, though, so maybe it can run.

Just hanging around waiting for the upside explosion...

Noticing something curious, though. Look at a 1-min on AAPL. Why would this be selling? We all know AAPL will beat by a lot, 'knock the cover off the ball', and explode maybe 20-30. So, are they just scaring it down to do some more accumulation at a better price? AAPL is arguably the most important stock in this entire 'bull market'. It must explode on the news. So, I'm thinking buy this dip big-time right here. Not a recommendation, just a comment.

Note that the recent high in AAPL puts it only about 10 from the all-time high, and up about 146% off the low. Not too bad. A nice pop would put it above the '07 all-time high. So, another one according to the script, or the first big 'miss'? A lot is riding on the fake 'perfection' here.

Notice how this area I mentioned in the ES awhile back has stopped this dead. It may just be coiling for a pop, but it just stopped it dead right there.

Just as you mentioned AAPL it started to climb up again. I dont follow single stocks and stuff but AAPL on
a Daily/Weekly looks amazing.

Very curious how the ES can't hack that area. I'd still be on the lookout that it is just building a platform here to launch from.

Yeah, I had a spot there in AAPL, that's why I mentioned it right then.

Okay, I'll solve the mystery. I probably should have left this for a day to see what anyone might come up with, but I want to finish up my week here, so I'll go ahead.

Note that this is not the basis for my trading, only one more factor I can add to my methodology when I see it. SL comes in, so I put the standard SL set on there, and watch the ML. Among many other things, it overlaps with an obvious .300 and .564. Hence the 78 (maybe 77.75?)





I also noticed another SL and set for that, and the upper // hits at the obvious .886 at 77.50, right in the general area.





It's splitting hairs to try to call these two areas, or to try to find an ES area even as small as two ticks, so in reality all this is one area, and it hit it dead on. I never should have said I was watching 78, instead I should have said 77.75 plus or minus a tick or two, but I really thought it might want to hit that ML dead on and quit right there for the week. So, that's one of the things I was watching for that mystery area...


Charts created on QCharts, courtesy eSignal.