The grind up last week and early this week was horribly executed and very low-quality participation and a clear price anomaly. In such a situation, when the markets go off course, as happened in November last year to similar central bank brinksmanship, the daily (White) and even the weekly (Magenta) MSP may show divergence to market patterns. The concept behind all of our tools is to represent market facts/directional probabilities, so when MSP diverges from actual market activity in a significant way that is as good information as when the market follows its structural metronome.
We still need to fulfill the potential of the weekly directional projections which go forward into mid-August and that pressure has now reached a very high impact potential for the markets. Below is a general idea of what MSP is seeing. Keep in mind that the basis for daily MSP is NOT cash session close to cash session close - it is morning session to morning session based. Additionally, as with all MSP, the size of a move in points should never be assumed - the utility here is only helpful in understanding the market metronome