A lot of times people will talk about the Nasdaq leading the broad market, or the Russell2000 leading the broad market. Here's an interesting scenario for today. The YM is above
POC from Friday and has traded up to
VAH premarket and bounced down. The ER2 has traded up to the
POC from Friday (it remains below
POC) and bounced down. The NQ remains right around
POC as of now, post news. Is there anything to glean from this?
Usually when we open up below
POC, I'm having a little bit of a bearish tinge to my bias, and above
POC is bullish. Now, we're inside of value on ALL of them, so we may just have an inside day, but definitely something worth thinking about. If the futures of the markets who are believed to lead the broad market are opening up at or below their
POC, should we have a negative tinge to the market as a whole? Let's find out
