Good Morning – Today is Series S3H NORMAL and the SPILL is down. Fridays we had two Bul Tells basis the Thursday CLOSE that were given in Friday’ s commentary:
Volume – 2.7 million contracts the largest day since Sept, 1 2015.
The CLOSE Thursday was at a POSITIVE premium vs. the cash close.
Admittedly, all of that could be negated by the news and that was highlighted and then the onus of outcome was laid on the doorstep of NORMAL, Wedge Zoom, or Link Stink with a descriptive of all 3. As I said last week following the very weak S2L , begin with NORMAL and then look for tells of aberrant. !! Needless to say, Friday was NORMAL in spades and because the CATALYST was Central Bank related shorts were caught and we did an SU day expanded range.
Going forward, the cat is out of the bag, the FED now has cover to rates Dec. 16 and the NEW YELL will be given, replacing the current yell at 2077. That is two days before Expiration.Part 1 if RUNNING THE GAUNTLET from BEIGE BOOK WED. Janet on the Hill Thursday with Draghi for her warm up act, and ending with NFP WAS ONE FOR THE BOOKS.From the time MARIO lost 2091.5 SPOT , the need to be converted SPOT for that say and go after the OHNO NOT YOU AGAIN 2103.5 AND A 41 HANDLE DUMP ensued we did a Greg Louganis 2.5 forward somersault WITH A DEGREE OF DIFFICULTY 3.5 as the Bulls scored a 10 with a 41 handle SU DAY from prior close.
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