Bullish Opening Range Gap that held a retracement test at Noon set the stage for Trend Day, which settled price at High of Day marking a successful follow-through day. Price has reached or exceeded Cycle Targets, so some back n fill pause in this 2-day rally may develop during today’s session.
Today is Cycle Day 2 (CD2)…Cycle targets have been achieved, so any further upside momentum would be an extension. Expectation today would be some consolidative price action to absorb recent price gains.
Odds of Rally > 10 = 83%; Odds of Rally > 20 = 45%; Average Range on CD2 = 14.50; Max Average Range = 22.50; Possible High = 2053 based upon penetration and conversion of CD1 high; Possible Low = 1988 based upon violation of CD1 low.
***Note: The odds highlighted are NOT predictions or trade recommendations, rather a guide based upon historical observed occurrences.
Scenario 1: Cycle Targets have been achieved…IF price can hold pullback to 2032 – 2034 zone, and THEN clear and convert PDH (2044.00), THEN upside projects 2049.25 – 2053.50 STATX Zone. Above this zone measures 2061.50, then 2071.75 TargetMaster Range Breakout Level.
Scenario 2: Failure to convert PDH (2044.00), Calls for some consolidation of prior days gains. Initial support zone to be mindful of is 2034 – 2032…next is 2030 – 2024 zone. Violation of the 2024 level reverses all of yesterday’s bullish trade and sets stage for deeper downside. Should this scenario unfold, key levels to watch are 2018.50…2013…2009.50.
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 on 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.