Monday’s breakout was followed up by a neutral consolidation (inside day) which so far has held the important 1840 handle. Continuation of this pattern should set the stage for another move higher in the coming days. It’s critically important that the bulls absorb any selling that does develop above the 1840 handle…benefit remains in the Bull Camp.

Today is Cycle Day 3 (avg range: 17.75) with favorable odds of higher prices by today’s settlement, as long as price penetrates and converts prior day high (PDH) 1851. IF this scenario develops, THEN recent high at 1856.25 is “in-play” with higher targets 1860 – 62 zone.

Failure to convert 1851 forces further consolidation action within yesterday’s range parameters. Violation and conversion of prior day low (PDL) calls for reassessment of bullish scenario, targeting 1829 – 31 zone, then, 1824 -27 zone.

Good Trading,

David

Habitude Twelve
I am disciplined. I behave in a way to reach my goals. I do what I intend to do. I have the intent to win through right actions. I will be patient for patterns to emerge and mature. I am decisive. I decide easily and act promptly. I act in the right way and right on time. When there is nothing to be done, I will wait.