Opening Play for Friday 8/21


Good Morning Traders!!

I apologize for my absence yesterday, we had a big storm here in Chicago and one of the transformers blew. Was without power for about 12 hours. The Nasdaq and SPs made new contract highs yesterday. DOW shares were up good but came 35 points shy of their contract highs. Russell stepping to its own beat.

Main note for today- The Nasdaq is on a pinball buy, so any pullbacks could set up buying opportunities throughout the day. SPs have had about 10 closes above the 5 sma and could also be due for a little consolidation up here.

The Main events today will be Fed Chair Yellen speaking at 9am CST this morning, as well as ECB President Draghi at 1:30 pm CST.

I will be out of the office today, but look forward to seeing you all on Monday. Wishing everyone great trading and a happy weekend!

Tradesheet from Snagit








BOs from snagit