NFP day update



/ES Update: Market tested NFP SoC 2547 and has been rejected, with sellers leaning on 2547 towards edge 2542. After Fed's speakers, market bounced and RTH profile closed balanced.

On the bigger picture, composite profile shows an excess high so buyers need to add volume and find value (acceptance) on this new auction range (2510-2550). That means more sweeping excess. Otherwise, sellers could start a liquidation break towards upper edge (2510).

Read more about 'Market Excess' and 'Bandwagon Effect'

Disclaimer: All information on this update is for educational purposes only and is not intended to provide financial advice.

Questions? Just ask via twitter direct message.

NFP day update NFP day update Reviewed by Information on 09.27 Rating: 5

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