The Daily Market Forecast

For Tue 210810 (Plenty can change by the open, be aware.)

Day Session Analysis: Mixed signals on direction. Expecting another relatively narrow choppy range day. Willing to trade in either direction. Tuesday (both sessions combined garnered 20% of all the gains over the past 5 years in dollars. Reversals and Breakouts are about even. Trading CL/GC/ES using BB Rev with new filters considered and looking for good credit spread levels to start a ladder on the SPXW.

S&P 500 Futures CPL: 4425/4426.50. We’re trading WITHIN the CPL (short edge below, long edge above) and AVOVE the equilibrium 4423.75/4425 (open below = short edge, open above = long edge).

The World Index (-100/100) soars from +7 to +50 with all major world markets bullish except the S&P futures which are flat (short edge).

Catalysts: Maybe Productivity & Costs @ 8:30. Covid Delta proliferates, now in the USA. Infrastructure Bill passage looks promising. COIN reports @ 16:00.

Trends: 60 min UP forming a new wedge (again) after breaking south last night, daily UP (short edge).

Chart: Inside day (long edge). Stat update shows LONGS 40% better (points earned). Opening flat (no edge). $TRIN XMA drops to 1.07 (long term outlook: stay long).

Globex: The range of 12.00 suggests a day session range around 25 points on a FALLING ATR of 30.58. Prior forecast around 31 points, actual 15.25.

Trade Well,

Mike Siewruk

P.S. Better yet... trade with a team full of experience. Watch this video to learn more.