Pre-Open Commentary | July 31, 24

Condensed Insight Before the Bell.

Key takeways:

We have some movement finally - in sense of metrics at least.

Yesterday orderflow/profile generated neutral/bullish signal. But to be perfectly clear, best entries in such cases are after stop runs below yesterday’s min. But this is not always happening.

Yesterday 40s area which I posted was pretty important support combo on options and was used definietly by lot of buyers.

Midterm trendphase is still bearish but with this neutral/bullish orderflow i close my small short and midterm am flat for now.

Today we have FOMC and tomorrow PMI which might influence our macro model.

As for intraday we finally have some opportunities today: