Nasdaq Last Through 29,201 Overnight. Gold Left the Box.

Wednesday closed green. Equities finished above Tuesday. That held.

What did not hold as acceptance: Nasdaq. Futures wicked 29,213 and last 29,141. Cash NDX 29,143.33, high 29,165.62 — never printed 29,201.26. A wick is not the line. Wednesday's After the Close already called it: the close stayed under.

That is the handoff Asia and London got.

Overnight

Tokyo did not replay Wednesday’s air pocket. Nikkei finished 64,214, −0.17%. Seoul: Kospi 6,579.48, +0.26%.

London duration came in. UK 10-year 5.153% versus Wednesday’s 5.237%. U.S. 10-year eased from Wednesday’s 4.82% tag; official CMT still 4.79% Wednesday; live 10-year near 4.73% into the open.

Futures Vs. Wednesday's Last

Futures vs Wednesday’s last (Globex).

• ES 7,696.50 vs 7,669.25. High 7,704, low 7,661.25.
• NQ 29,208.50 vs 29,141. High 29,292.75, low 29,075. Last is through 29,201.26. Overnight traded both sides and finished a handful of handles through. Cash has not spoken.
• YM 53,415 vs 53,136. High 53,466. Do not let YM speak for Nasdaq.
• RTY 2,975.90 vs 2,958. High 2,983.30, low 2,949.90. Still through 2,949.71; overnight low tagged it.
• Gold (most-active) 4,539, high 4,542.60, low 4,426.70. Wednesday Oct last 4,400.80 was still inside 4,290–4,406. Overnight left that box.
• Crude 91.91 vs settle 91.01. High 93.14, low 89.57. Wednesday failed 92.54. Overnight high went through. Low held above 87.78.

VIX 15.07 vs 15.20.

Into New York

8:30 ET: revised Q2 productivity, July trade balance. 4-week and 8-week bills. Ciena and Campbell before the open (Ciena already out); Zscaler, lululemon, DocuSign after the close.

Location, Not a Call

Location, not a call. Nasdaq last through 29,201 on Globex is a location. Acceptance is New York's job. Crude through 92.54 and gold through 4,406 are locations. Until cash accepts Nasdaq through 29,201, the line is still the line.

---

*Futures trading involves substantial risk of loss and is not suitable