BMO Commentary
Go through the Morning Checklist to see how the Markets are currently doing and what Economic Events may affect the Markets today.
0720.ET
World Markets are Mixed and US Markets/Futures are Up some.
QQQQ/SPY are currently Trading at 42.94 / 107.94
The US-Dollar is Down slightly … but well over 79 now
Refer to my Weekend Analysis Commentary posted yesterday for my Trading Plan.
There are Big Economic Events out this morning .. at 0830.ET and at 1000.ET
AMC Commentary [protect]
The day went just as I predicted in my Weekend Analysis . . . hitting that first Resistance level of 43.2x and failing to make it past there . . . QQQQ just grinded Up/Down to that level then lower . . . eventually Closing right at that level.
There’s nothing to show tonight, but I wanted to take this opportunity to show my Elliott Wave Charts of late:
1 – this EW Chart I just noticed/drew as I was Trading this morning and I used it to Open positions at the 5 & C turns this morning:
QQQQ 1-min Elliott Wave
2 – I drew this Daily QQQQ Elliott Wave Chart months ago and notice that while it went past the 61.8% retracement level, it has now come back to that level and Closed on it today . . . watch for the direction QQQQ moves away from this level for the next Bigger Move direction:
QQQQ Daily Elliott Wave
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