2021.06.15 ESU1 Settlement

Still roll-over week and soon to expire June “M1" contract made an all time high at 4267.50 overnight. For U1 the EurAsian session made a contract high overnight 4258.25 and opened at 4247.25, the price action printed lower towards the prior all time high 4238.25. It couldn't make it all the way down to 4224.25 but did print just a few ticks below yesterday’s RTH POC at 4228.75 and reacted back up. The price action rotated up to just under and then away from 4238.25. It rotated up through and down through a few times. Aggressive selling swept the market down at 14:49:30 to push below 4238.25 and aggressive buyers swept the market up at 14:59:30 to push price action above 4238.25 just in time for settlement price calculation.

With the expectation that the FOMC statement tomorrow at 13:00 will be dovish with respect to Re-Po operations exceeding 400 billion for the first time time since 2016. I forecast the price action will trade below today’s VA and perhaps to 4224.25 so that it can have a running start to take out the U1 contract high which I am expecting to coincide with the settlement price time period tomorrow at 14:59:30.

If the EurAsian session closes above 4238.25 I suspect the price will trade down to 4228.75 maybe to 4225.50 to get a running start to get after a new all time high and if it closes below 4238.25 I think it will be a slow trending market down to the downside again close to 4225.50 to have a running start to come at the 4258.25 to make an contract high or even an all time high.

41 & living in ma’s basement getting ready for the next trek convention. i’m here cuz i need a journal but wordpress is too hard and don’t want to use ms word.