Outside Gap above prior high set the stage for strong momentum move eclipsing Average 3-Day Cycle Target as well as Extreme Penetration Levels. Buying forced some short covering early, but it wasn’t until key 2094.50 level was penetrated, along with … Continue reading
S&P e-mini (ES) found responsive buyers within the 2068 – 70 zone during early volatile trade action in Tuesday’s Session. This lead to rally which reached initial target 2083.00 outlined in Scenario 1 in prior Daily Trade Strategy 06.09.15. Overnight … Continue reading
Monday’s progressive selling has continued into the overnight session reaching 2071 projected Low of Day outlined on prior Daily Trade Strategy 06.08.15. Having extended below prior low (2076.25) to Cycle Decline Target (2071.75), price has sprung back up to the … Continue reading
Current 3-Day Cycle has been weaker than past cycles…This may be a “tell” for further price weakness…Nasdaq has fared better on a relative basis, so we will need to monitor closely the price action there since it is 20% of … Continue reading
Economy All eyes on Wall Street will be on the U.S. non-farm payroll report this morning, with the possibility that a strong reading could move the clock up on a Fed rate hike. Economists expect U.S. employers to have added … Continue reading
S&P e-mini (ES) remains within multi-day range between 2120 and 2100 handles…In overnight trade price is yet again testing the lower edge of range (2100.00)…It appears from overall price action a “tipping point” is very close at hand. Markets do … Continue reading
Price held early test of Cycle Day 1 Low in yesterday’s session and rebounded firmly throughout the day. Overnight trade continues to hold above prior Volume Trend Midpoint and as such in in position to challenge and exceed key 2118.00 … Continue reading
Price swung briskly in prior session between anticipated support (2100.25) and resistance (2115.00) outlined in prior Daily Trade Strategy 06.01.15 settling at Volume Trend giving a wide range day formation. The Battle of the Bots continues in overnight trade, again with … Continue reading
Price continues to be locked within multi-day range between 2100 – 2125 price edge parameters. Bulls have lost some upside energy this is true, but they have yet to succumb to the growling Bear. Until there is a definitive break … Continue reading
Current 3-Day Cycle Target (2123.50) has been satisfied…So any penetration and conversion of this level expands the cycle which then targets 2133.75. Overnight trade has price within prior day’s range continuing to consolidate between 2110 (key support) and 2123.50 (key … Continue reading