Shortened trading week coupled with major jobs report on Friday which was lower than expected, drove ES lower to test 2038 handle pivot support. So far no further price damage below that level, so this week will be of importance to find stabilization or deeper selldown may occur. European Markets are closed for Monday’s trading, so volumes and activity is anticipated to be below normal.
Today is Cycle Day 2 (CD2); Odds of Rally > 10 = 83%; Odds of Rally > 20 = 45%; Average Range = 14.50; Max Average Range = 22.50; Possible High = 2058.75; Possible Low = 2033.00
***Note: The odds highlighted are NOT predictions or trade recommendations, rather a guide based upon historical observed occurrences.
Price still holding above Key Senkou B Support
Today’s Hypotheses: June (M) Contract
Scenario 1: IF price can stabilize above CD1 Low (2044.00), THEN there is a 57% chance of reaching 2058.75 TargetMaster Range Breakout Level. Above this level targets PH (2064.75).
Scenario 2: Violation of PL (2044.00) increases odds (64%) of retesting 2038 – 2036 zone (Senkou B) for surety. Failure to find responsive buyers in sufficient quantity and aggressiveness targets 2034.50 – 2031.25 STAT-X Zone.
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!
“Knowing is not enough, We must APPLY. Willing is not enough, We must DO. – Bruce Lee