Equity Markets in have reacted positively to weekend news release that Larry Summers has withdrawn from consideration for next Fed Chief. A price gap in Globex Session is what is known as “Jumping the Creek” leaving a void in price action creating a large imbalance. Markets now need to confirm the acceptance of this higher price imbalance…
Today’s upper range limits measured between 1699.50 – 1702.65 (TargetMaster)…Price has exceed the Upper X-Zone (1692.75 – 1696) which now becomes initial support zone on pullbacks.
Today could turn out to be a bit tricky trading (Halloween is 6 weeks away)..So we will update members during trade session for more dynamic price levels.
Stay focused and disciplined.
I will identify my mistakes and learn from them. I am optimistic, realistic and honest. I will not make up stories about the good or bad things that occurred in the past or are happening now. I admit when something is not working. My optimism gives me faith and courage. I will not fall prey to blame and fear.