Economic News
Economic Calendar for this week highlighting the important events to look out for.
Monday: Factory Orders and ISM Services Index.
Tuesday: N/A.
Wednesday: International Trade and EIA Petroleum.
Thursday: Jobless Claims, EIA Natural Gas, Fed Balance Sheet.
Friday: N/A.
Rollover
The week ahead is rollover week. As we approach contract expiration, we can expect volatility and unexpected price movements. Volume Delta cannot to be trusted during this week.
Volume should start to switch over to Sep contracts on Thursday. We can expect most of the volume to be trading on the Sep contracts by Friday, but general trading volume might be below average.
Technical Analysis
Average Daily Volume:
ES: 1,602,000
NQ: 618,000
Average Daily Range:
ES: 182 ticks
NQ: 773 ticks
Prices to monitor as we trend higher into resistance zones:
ES: 4140, 4200, 4240, 4300, 4364, 4390, 4466.50
NQ: 13890, 14000, 14309.25, 14635, 14650.75, 15133
Looking at the week ahead and the potential support and resistance zones, we look at the higher time frames down to the lower (weekly, daily, 4hr, 1hr) down to (30min, 10min, 5min, 1min)
If we continue to trend higher, resistance zones that get broken are potential support zones if price comes back and retests. Analyze how price reacts to these zones and plan your trades accordingly.
Pyramid Indicators 