The Precise Take – Filling the gap

Big Picture Analysis - Overnight, the ES filled Sunday’s pre-holiday gap up.  While price continues to push higher, we are heading into some seasonal headwinds this week in the form of Treasury supply from the 2, 5 and 7 year auctions.  We’ve also read some other bearish seasonality studies.  Not that this means price must decline, but it simply makes sideways to downside price action more likely than ordinarily.

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