Nasdaq Last Through 29,201 Overnight. Gold Left the Box.
Wednesday closed green, but Nasdaq only wicked 29,201.26 — cash never printed it. Overnight, NQ traded through that line and gold broke back above Wednesday’s range. Here is the futures board and yields before New York opens.
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 for all investors. This briefing is educational market-structure commentary, not financial advice.
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