7/11/16 was down -$0.36 and the model projects that the component on the 7/11/16 kill will be down something like -0.25 to -0.55. With the component at +2.61 to the NNNs, packers are going to have to start hacking away at their bids or else the NNNs are in for somewhat of a bounce to get the "Gap" closed by Friday. It actually appears to me that traders have made a mistake and taken the NNNs too low so I spent the night with a pair of long NNNs.

The pre-opening is saying that was not a mistake.

If ITZ were still trading the NNNs, there is a good chance that his fishing lines would latch onto a pair and it does not look like they would be a suckers. This bounce may carry over to the QQQs and ITZ will get the signal there.

Packers made a solid purchase at 105.3% of the moving average daily purchases.

Best wishes,

dhm