Hello Everyone,

Thursday Comments:

As stated on earlier this week, the SPX/QQQ were coiled with energy building - overnight that was released with a big move higher in the futures.  The regular session opened with a large upside gap that was immediately faded (sold) and ultimately retraced down to fill today's gap (which aligned with key ES support).  Buyers emerged at this zone and bid prices back up into the close partially retracing the move down.  Another BOS (break of structure) to the upside keeps the bulls in control. Chinese stocks has another big move as the gov't added further measures aimed at supporting their markets.  Oil was impacted by news from the Saudi's expecting to increase production. 

Tuesday Comments:

Both the SPX/QQQ have been largely range bound over the past four sessions with each managing to make marginal new highs today.  Market is building energy for a move - continue to trail up stops with this backdrop.  

The big news overnight came from China - they enacted a massive stimulus plan (see trading community post of mine pre-market).  These actions led to a big move overnight in Chinese stocks and spilled over into several commodities today.  

ES levels posted on trading community. 

Here's a link to Tonight's Newsletter.

Please take a moment to look at the trade ideas.