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(1) 9:35AM - 10:15AM NY Opening Hour Move
Market develops its trend or bias for the day -- the move was down
And then around 10:10AM ES initiated its Morning Move
(2) 10:00AM - 10:45AM Morning Move
– expect a counter-trend move of some sort in the first 45 to 60 minutes of the day’s trend or bias, if there is one. -- The move was up (9 pts).
(3) 12:45PM - 2:00PM The Post Lunch Move (– expect a resumption of the overall day’s trend or bias of the day)
The move started @ 13:05 and was down more than 3 pts.
(4) 2:00PM - 3:00PM Afternoon move. The move also started @ 13:56 (3pts)
(-- expect: A counter-trend move of the day’s trend if the market is testing the high or low of the day.
(5) 3:00PM - 3:30PM Delayed Afternoon Move. The move started bit late @ 15:18, was very swift and lasted only 14 minutes (4pts)
(-- expect: A resumption of the day’s trend if a counter-trend move occurs around 2:00pm)
Can you help answer these questions from other members on NexusFi?
08:30 Prelim GDP (USD)
10:00 Pending Home Sales (USD)
10:30 Crude Oil Inventories (USD)
14:00 Beige Book (USD)
From Bloomberg news:
-- Confidence among U.S. consumers fell in August by the most in 10
months as households grew more pessimistic about their employment
prospects and the economic outlook.
-- Ben S. Bernanke probably won’t provide specific plans for further
monetary action at the Federal Reserve Bank of Kansas City’s annual
Jackson Hole symposium this week, according to Pacific Investment
Management Co. Chief Executive Officer Mohamed El-Erian.
1) 9:35AM - 10:15AM NY Opening Hour Move
Market develops its trend or bias for the day -- the move was down (over 2pts)
And then around 10:05AM ES has initiated its Morning Move
(2) 10:00AM - 10:45AM Morning Move
– expect a counter-trend move of some sort in the first 45 to 60 minutes of the day’s trend or bias, if there is one. -- The move was up (3pts)
(3) The Delayed Morning Move has played well (5pts today) @10:35
But as you see from my previous posts I’m recently focusing only on the 5 moves that I’ve described in my post #1:
a) 9:35AM - 10:15AM NY Opening Hour Move
b) 10:00AM - 10:45AM Morning Move
c) 12:45PM - 2:00PM Post-lunch move
d) 2:00PM - 3:00PM Afternoon move
e) 3:00PM - 3:30PM Delayed Afternoon move
(4) 12:45PM - 2:00PM Post Lunch Move
We were expecting a resumption of the NY Opening Hour Move trend (downward bias)
The move was initiated @ 13:26 and failed (undesired move -- less than 1pt)
(5) 2:00PM - 3:00PM Afternoon move
– expect a resumption of the day’s trend if there was no Post Lunch Move (or undesired move)
The move was initiated @ 13:55 (over 3pts)
Then @ 15:06 ES has initiated its Delayed Afternoon Move (2pts)
(6) 3:00PM - 3:30PM Delayed Afternoon move
– the 2:00pm move will help dictate what may happen at 3:00pm,
expect a counter-trend move of the NY Opening Hour trend.
So today the market opened in a choppy mood and then
(1) around 10:14AM initiated its Morning Move (over 6pts) until 10:55 -- so the overall today’s trend was Down.
(2) 12:45PM - 2:00PM Post-Lunch Move --the move started around13:00
– expect a resumption of the overall day’s trend (downward bias of the day)
--the move was down but not significant so I've considered this as undesired move.
(3) 2:00PM - 3:00PM Afternoon Move --the move started @ 14:10 (2pts)
– expect a resumption of the day’s trend if there was no move (or undesired move) from 1:00pm to just before 2:00pm,
(4) 3:00PM - 3:30PM Delayed Afternoon move ---the move started a bit early @14:50 (over 3pt)
– the 2:00 pm move will help dictate what may happen
expect a counter-trend move of the day’s trend.
-- More Americans than forecast filed applications for unemployment
benefits last week, a sign that progress in the labor market is faltering amid
a slowing economy.
- Consumer confidence in the U.S. held close to a seven-month low last
week as Americans’ view of the buying climate fell to the lowest level of the
year.
- The euro declined for a second day against the dollar after Spain’s Prime
Minister Mariano Rajoy said his government would delay deciding whether
to seek a sovereign bailout until the aid conditions are clear.
