Debriefing Tuesday 30th June, Month End and Todays Journal

Debriefing Tuesday 30th June, Month End and Todays Journal

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  • UK government plan to reduce VAT to ease the pain of price increases – The Times.
  • Japan’s FSA will loosen regulations to let trust banks manage crypto.
  • US Treasury Secretary Yellen emphasised the necessity for Stablecoin to be governed by federal law.
  • Japan’s Dep. Chief Cabinet Sec. Kihara: Investigating the effects of Putin’s Sakhalin-2 order on Japan.
  • Eurozone CPI MoM Flash Actual 0.8% (Forecast 0.7%, Previous 0.8%)
  • FRANCE S&P GLOBAL JUNE FINAL MANUFACTURING PMI AT 51.4 (VS FLASH 51.0)
  • GERMAN ENGINEERING ORDERS WERE DOWN 1% IN MARCH-MAY PERIOD

Fridays’ Data

Real Time Economic Calendar provided by Investing.com UK.

Thursdays Profile
Month End Debrief

Thursdays Price Action Analysis

Month End Debrief

The ON auction into month-end was heavy breaking bellow Wednesdays very condensed normal distribution day. Sellers were found below the Wednesday POC to push lower in the session to see the sizeable composite level at 3760 tested before slightly bouncing into the RTH handover. A true gap to the prior low (GAP RULES!), opening at 3778 just below an area of strong resistance (3786, and the ON singles marker 3789) in the ON session. 

The auction opened with an open test rejection, briefly impulsing up testing the 3786 area before a solid push lower to test and break the ON lows 3760 and on to 3741. Buyers then reversed the auction higher to break the IB en route to test the previous day’s VPOC 3820 to briefly trade as high as 3822.75. the drive higher was by no means easy and very choppy; being a Month End high volume was to be expected. 

A second failure to take higher ground above 3822 left a double-top structure that was eventually released into Settlement 3789. The auction continues to OTFD. Notably, we closed a small buying tail with a spike base of 3746 and a low 3741.25. Buyers will be looking to defend this area. 

As it is month end/first of the month , it is worth noting all the critical profile levels for the prior month. I will be focusing on these areas for the first few days of the new month’s auction to gauge for change. Surprisingly the have barely changed from my weekly analysis, so I will be lazy and not update just yet. Looking at the HTF 3672  remains a keytarget below Junes Monthly POC 3780. To improve, you should note the HTF auction. I can’t stress this enough. 

Neutral Day,  Daily OTFD

H: 3822.75 L: 3741.25 MID 3782 VWAP 3783 SETTLE: 3789 VPOC 3789 

MONITORING: 3741-46- YLo and Spike base | 3800-LEDGE| 3820

Tuesdays 3843, 3875, 3920 Distribution nodes

PA yesterday was quite choppy. JIM DALTON AFTERNOON PB HIGH 3803!! NEAR THE 3800 ledge area

ON Update and Thursday’s Plan

ON SESSION  | Double Distribution

ON test and fail of the volume ledge 3794 drew in sellers to take the auction lower through yesterday’s range to test the spike base forming a low at 3744.5.  Buyers defended these lows(take note) to auction all the way back to YPOC  before rotating back down as of 6 am CT.

ON Double Distribution | Inside yesterday’s range. *Expect a choppy open inside range and given the 2-way rotations ON.

ON H: 3794 ON L: 3744 ON POC 3782 | Monitoring ON HI 3794

Opening Bell

0830CT

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Notable tweets

Quote Of the Day

Legend, everyone laughs at his calls but he is the one really laughing. Nonetheless, well said Jim!

Trade Well And Prosper.

BT