BMO Commentary
Go through the Morning Checklist to see how the Markets are currently doing and what Economic Events may affect the Markets today.
0645.ET
Far East Markets are Up slightly and Europe is Down slightly to Big.
US early Trading and Futures are Down slightly.
QQQQ/SPY are currently Trading at 39.75/101.71
QQQQ Resistance is at 40.50 – 40.70, then 40.80, then 41.00
QQQQ Support is at 40.15 – 40.0x, then 39.60 – 39.70, then 39.4x
There are Economic Events out today starting at 0745.ET that will affect the Markets.
Very key price levels for the Short-Term are the 39.67 Low of the last Swing Down and the XX-sma on my 60-min Chart of 39.80 . . . if QQQQ struggles to stay above these levels, our previously Posted Bearish scenarios will start to take hold. I think I am just going to sit out of Scalp-Trading today and watch . . it could be Wild and ugly with all of the little news events coming out today … I see Bullish head-fakes galore in this turning Bearish environment. . . . possibly a good time to start building those longer-term Bearish positions.
AMC Commentary
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