Teeter Totter

Yes, you read that right--teeter totter. It's because you've only got two options: springboard up to sky or fall back to the earth. About now that kind of feels like what the markets are doing, just waiting to see if the very large proverbial "they" on the other side of the teeter totter is going to launch them into the sky or let them crash into the ground. Unfortunately, at the moment, it feels a lot more like they've also moved the teeter totter to the edge of a cliff so the ground is thousands of feet below.

Hong Kong's Hang Seng Index had a rough night last night, opening after a holiday into a big gap down and finishing the session down about 2.6%. Real estate, banks, and energy led the way as it tumbled lower. How will that translate into today's RTH session? No idea, but the Euro session opened and tried to recover before falling apart again. I'm not saying I expect the same thing, but a similar move would not surprise me in the least.

While we aren't blessed with Jerome Powell sitting around listening to people talk for an hour today, we do still have some significant news on the horizon: JOLTS job openings data will be released at 10am ET. Keep that on watch as an important event for the morning.

Here are the NQ levels for today:

Current Price: 14880

Upside Targets: 14906, 14955, 14996, 15046

Downside Targets: 14865, 14820, 14782, 14740

Stretch Targets: 15074, 14680