S&P 500 e-mini continues to be locked within multi-day trading range between 2100 – 2115 as we have been discussing in recent briefings. We continue to classify this action as bullish as long as 2100 continues to hold on light … Continue reading
March begins where February ended…S&P still stuck within multi-day range between 2100 and 2115. There was some month-end price weakness on Friday that will need to be addressed early this week. If price can hold above 2100 and recover above … Continue reading
Consolidation above 2100 enters its fifth-day with continued light volumes. The key levels to be mindful of are the upper and lower range edges…2100.00 – 2116.00. Violation or Penetration with Conversion sets the stage for new directional move. Stay Alert! … Continue reading
Range as measured by 5-day Average True Range now stands at 10.42, which means daily ranges continue to compress…VIX index is now back to 13.84 as complacency has reemerged…Daily volumes have been consistently below 20 day averages…Cumulative Delta’s have reversed … Continue reading
Bulls continue to rule as a steady stream of buying across all sectors continue to auction price higher, albeit on below average volumes. This trend is anticipated to persist until there is a counter-force greater to satisfy current demand. One … Continue reading
Yesterday’s trade was can be characterized are “quiet consolidation”, as price traded within a very narrow range with volumes well below average, forming an “Inside Day”. Overnight trade is also very light with 63K contracts trading as of 7 am … Continue reading
All-time contract high in the S&P 500…Continued strength in economically sensitive sectors…technology on a bullish role…Mutual Fund buying spree all help to propel prices upwards. Price high our projected target of 2107.50 outlined in Friday’s Daily Trade Strategy 02.20.15. We will … Continue reading
Continued bullish consolidation has now reached day-five, with option holders of 2100 Call Strike expiring worthless, which could open the door to a big “gun n run” of buy-stops above 2100 today, so be on high alert! Today is Cycle … Continue reading
Yesterday was a quiet trading session characterized by light relative volume and narrow “inside range day”. This week is options expiration…There is a large Strike Price @ 2100…So trade at or below this strike for remainder of this week would … Continue reading
Yesterday was a solid Cycle Day 2 (CD2) whereby price rallied to reach extension target of 2098.50 outlined in Daily Trade Strategy 02.17.15. Here’s an excerpt: “Scenario 1: IF price can Clear and Convert (C&C) PDH (2093.75), THEN there is … Continue reading