Again, tight(er) trading ranges again on Wednesday as the market continues to IMHO prepare for Friday's and Monday's expirations. Both the ES and NQ continue to make new highs - ATHs in the ES.
Again, tight(er) trading ranges again on Wednesday as the market continues to IMHO prepare for Friday's and Monday's expirations. Monday being a quarterly expiration with the rolling of the JPM collar. Both the ES and NQ continue to make new highs - ATHs in the ES. My expectation for the next few sessions is for the upside to continue but it will likely be in a rolling fashion -- in other words, capital will flow between classes and individual stocks which will affect ETF's, futures and indexes. I also discuss what comes next for both indexes once the "short term" top is reached.
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