Well - you have to laugh at the financial press "doom and gloom as market sells off on poor employment numbers" - yes, it sold off on Friday and went all the way down to Wednesdays low...
We are at the bottom of the range we've been in for the last few weeks, so first thing to look our for is completion to the downside and a move back up to 1929. If not, my downside target is 1814.
Looking at the profile from last week, we can see that volume tails off below 1892, so I have that as potential resistance in any move up - if we work through that - I expect to see the other side of value.
We had a pullback to 1886 on Friday, so I'll be watching that into todays open. We have had a big push down overnight & that is continuing as I type. So into the open, i'm looking to see whether those lows can hold or we snap back up off the open. We have a good chance of an extended first swing off the open based on where we are now. It's along way down to 1814. We do have a level at 1843 but it wasn't very significant last time we were down here.
Weekly Numbers
Range 1865 -> 1940
Value - 1894 -> 1925.25
S1 - 1847, R1 - 1922
Daily Numbers
Range 1865.75-> 1905.25 / 1914.50
Value 1868 -> 1886.50
Globex 1853 -> 1884.50
Today only 1866
Settlement - 1875.25
Long Term 2109.25, 2006, 1929.25, 1843, 1814, 1773.75
