SCHEDULED NEWS
Good morning, everyone. It is Wednesday, September 30th, and it is the end of the month, so we need to be prepared for anything.
Yesterday’s price action was quite slow, and the overnight session has been more of the same. We’ve essentially drifted back and forth, coiling in a very tight range. The key event to watch today is the Red Tag News for JOLTS Job Openings at 10:00 AM, which should give us a bit of a shake. For now, price is being held up by a major support level, and the market seems to be accumulating energy for its next move.
🧠 Current Market Context
For over 24 hours, the price has been contained within a tight 20-point range between roughly 6716.00 and 6697.00. This compression tells me the market is building cause for a more significant move. The key question is which way it breaks. While we have a clear bullish imbalance target higher up at 6782.00 that they will want to clean up at some point, the immediate action could go either way.
My preference is to see price come down to the major support leg around the 6665.00 - 6670.00 area, but we have to respect the fact that as long as they hold the overnight pivot at 6697.00, we can continue to push higher. Today is not a day to guess; it’s a day to trade the levels as they come.
