Open Drive buying off the open created a massive short squeeze vaulting price up 20 handles during the morning session to reach STATX Zone…Only to give it all back and then some in the afternoon session as Crude Oil breached … Continue reading
Sell-Off continued pushing price past average range targets down to STATX Extremes between 2023- 25 zone. Today begins futures contract rollover…Front Month is March, 2015 “H”…Spread Discount = 7 handles. Today is Cycle Day 1 (CD1): Odds of a decline … Continue reading
Heavy aggressive selling continued in yesterday’s session pushing price down to 2033.75 deep extreme within our STATX Zone which was projected in Scenario 2 of DTS 12.09.10. Strong short-covering reversal sent prices vaulting back 27.50 handles in the afternoon session … Continue reading
Markets are lower in overnight and early morning trade as yesterday’s sell-down continues. In prior Daily Trade Strategy Report 12.8.14 we were anticipating weakness into this Cycle as the bulls had lost their strength to push prices higher. Price has … Continue reading
Despite marking a new all-time high last week and expending lots buy buy-side energy, absorbing overhead supply, on a week over week basis, price has not made much progress. This could be a “tell” that sellers are in greater quantity, … Continue reading
Price probed lower in prior session to find support at the 3D CPZ laid out in prior Trade Strategy 12.4.14. Normally this probing occurs on CD1, but as we have stated, this Cycle may be disrupted because of last week’s … Continue reading
This Cycle is obviously very strong as price continued to power higher leaving in its wake a higher low on Cycle Day 1 (CD1). We have seen this occur in past cycles, and when it does probabilities favor what we … Continue reading
Yesterday was Cycle Day 3 (CD3)…As such, we knew odds (82%) favored a rally greater than 10 handles, with Average Range on CD3 = 17.75…The full range of day was 18.50, so overall, a very nice way to end the … Continue reading
Early weakness lead to Scenario 2 playing out yesterday as price sold down to the 2048 handle where responsive buyers stepped in to support price. Early morning trade today has price higher by +6.25 handles. Yesterday low (2048.25) will need … Continue reading
Narrow price range and relatively light volume characterized last week’s holiday trade action…Though it was quite, things were indeed happening under the surface…Exploring a bit deeper into the volume figures, what appears is buyers encountered responsive selling in sufficient quantity … Continue reading