S&P e-mini hit our projected price target (1956.75) in Scenario 1 hypothesis yesterday. Price continues to consolidate within upper value zone as Second Quarter is now in the record books. Average Daily Range (ADR 10) is currently 11.50 which is near historical low end. Summertime is in full swing with July 4th Holiday this week. Expectation is for continued two-sided range trade with progressively lower volume ahead of the holiday shortened sessions.
Scenario 1: IF price can penetrate and convert PDH (1956.75), THEN initial upside projects 1958 – 1960, followed by expansion targets 1963 – 1965, with STAT-Xtreme 1967.50.
Scenario 2: Failure to convert PDH (1956.75) suggests pullback into prior range with initial support between 1950 – 1953 zone. More important support is the 3D CPZ 1947 – 1950. IF this zone is tested and fails to elicit a buy response, THEN lower price projections measure 1944 – 1942 zone, with STAT-Xtreme 1938 – 1940.
Trade Strategy: Expectation is for continued two-sided trade within recent range, and as such, we’ll remain flexible and selective for both long and short trade opportunities within stated parameters highlighted.
Focus on the Trading Process…Not the Outcome ALWAYS USE STOPS!
I am ready to trade. My patterns are verified. My homework is complete. My mind is clear. I have rehearsed everything. I am prepared strategically, emotionally, and financially each and every day.
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS