In yesterday’s trade we knew there was good odds, 71% of a decline greater than 10 handles occurring on Cycle Day 1 (CD1)…The high of session came early at 2073.00…then the decline began pushing price down to 2062.75…10.25 handles..BINGO! Odds of Decline (71%) > 10 handles fulfilled. We also knew that 2064 has been an important support level, so we expected a buy response if tested…Subsequent rally higher places a “secure low” marked at 2064 handle.
Anticipated trade activity today is for light volumes ahead of the Thanksgiving Holiday…Friday will be half-day session, so we will take that opportunity to rest, relax and recharge our trading batteries.
Today in Cycle Day 2 (CD2)…Typically this day is a consolidation type day within the three-day cycle…The Holiday may disrupt the normal cyclic action, so don’t read too much into this weeks trade action.
Here’s an abbreviated trade view: Key Support: 2064…Key Resistance 2073…Clearing and conversion of 2073 targets 2083 level…Violation and conversion of 2064 targets 2053 level. Expectation is for continued quiet pre-holiday trade between recent zone parameters.
Trade Strategy: Our tactical trade strategy will simply remain unaltered…We’ll be flexible to trade both long and short side from Decision Pivot Levels. Continue to focus of Bull/Bear Stackers and Premium/Discounts. As always, remaining in alignment with dominant intra-day force increases probabilities of producing winning trades.
Stay Focused…Non-Biased…Disciplined ALWAYS USE STOPS!
I can recover from any setback. I have an attitude of abundance. I affirm abundance in the universe. I know I cannot begin to count the stars. I realize the ocean doesn’t care whether I go to it with a bucket or a teaspoon. I know the market provides a river of opportunities. I invest in my capabilities. I will be happy with my results.
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS