Monday Prep
Friday’s last day of the quarter saw some quite erratic moves over the afternoon but left a relatively small range and within the balance of the prior days. A prominent VPOC was left at 2919.00.
The quarter and monthly bars were one-time framing higher, with the weekly bar inside the prior week and daily opening below the prior day’s range and moving back inside for almost all of the RTH session.
The 2907-08 area has been tested several times now so if we do seem a break lower the chances have increased of that area breaking on another attempt.
With the news over the weekend regarding the Nafta deal, trade overnight has ranged between 2922.50-2937.75 so far, above Friday’s high and currently looking to gap higher. Friday’s settle was 2919.00 and high at 2925.50. Failure to close the gap early on gives buyers the upper hand and puts the all time high back in sight.
Zones of interest for today: