Blount’s Numbahs Thursday: SPILL is DOWN

Commentary, E-mini S&P 500, Technical Analysis

Good Morning – Today is serries S4H and the SPILL is DOWN. Yesterday price gapped up to the 2106.5 NON SPOT for the SPILL HIGH and then reversed back through the 2103.5 SPOT that needs to be converted. This was done on the way to the a.m. low. The OPEN 2098.7 had a back through as well.

This set the market up for lower prices if the open was controlled by the bears.
The last hour low was the 2091.5 SPOT ES.WHAT NEXT???

Option EXPIRATION weeks have a slight skew up. We now have 3 days this week where prices closed below 2100 ES and last weeks close was 2108.4. IF we are doing a TRIANGLE then the BULLS need a NORMAL s4H day with the HOD coming in the last hour. They need to get the 2103.5 converted and go after the CLOSING DOUBLE TOP in the 2117’s cash.

 

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