Jul 182016
After an attempted military coup of the Turkish government starting around Friday’s cash session close, market normalcy returned and price opened last night in the middle of Friday’s range. The ES overnight reflected a generally bullish tone until comments from a BoE member suggested that BoE monetary easing other than a rate cut will most likely be used. Now, it appears the gap to Friday’s 2152.75 settlement price will be closed this morning. It’s a light news day for the US session with no tier one data scheduled. Volatility has been shrinking as the bulls try to move higher. Size bias is long into the US session open.
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