NQ - Range for Friday 14976 will be important Level for OPEX E-MINI NASDAQ-100 FUTURES (CONTINUOUS: CURRENT CONTRACT IN FRONT) CME_MINI:NQ1! JRML115847 We are Neutral for Today, VX during Roll should continue to come under pressure. Should the VX break 16.90 we could see a quick flush down to ~16.50s. Ahead of Jackson Hole, there will be an effort to continue the Trend - which remains Bullish for now. We anticipate a blow off ahead of VX roll. The FED has a high probability of announcing tightening in varying forms - even as the Commodities Complex is coming under duress - Lumber was off 7% yesterday. Gamma for AAPL will play an important role for the large number of Calls purchased when AAPL was trading 141s. Bonds are pulling back ZN/ZB selloffs will provide a tailwind to Equities as will NQ Bank. Opening Breadth on Friday's usually provides a solid trend, Friday's are generally NOT a consolidation. Bias is to Upside for Index Complex.16.68 and then 16.49. The VX is presently trading -2.57% with the VX Curve in a well defined Contango. 15045.90 is the upper Limit should 14,976 be broken. 14.672.80 is the lower Limit for Today unless it breaks - 14,540.75 would be lower Support. NQ may well trade this entire range over the coming week into VX Settlement. VXN will provide guidance as Support remains 19.15