Excitement at last. If we look left, we can see we are now at the top of the old range where we spent April to July. So that makes the area we are at (2084-2089.25) very interesting. A push down and we could find ourselves at 2000 very quickly. On the other hand, there is a very good case for additional participation coming in if we start to lift up from this area - people will play the rejection.
We have 2 distributions formed this week. The lower one seems to top out at 2102.50 and the upper one has a low of around 2120. If we pierce 2102.50, there's not much trade till 2120 - so look out for a pop if 02.15 breaks but be cautious as we approach 2120.'
We had the drop on Tuesday and consolidated on Wednesday. Wednesday AM was FOMC morning, so we'd expect light trade and there wasn't much of a reaction to the FOMC. We can see that overnight we've hit our 2084 long term level to the tick and now started to work back up. First order of the day is what the US traders think of that.
Plan
Finally a different plan!
- 2084-2089 is a key area. Let it play out first and once we get some clear momentum one side, jump on it.
- The end.
- Well, unless it ranges all day, which is a distinct possibility after yesterday. For me, I'm sitting aside if that occurs.
Weekly Numbers
Range 2084 -> 2130.50
Value 2084-> 2121.50
S1 - 2102, R1 - 2157.75
Daily Numbers
Range 2087.25 -> 2106.50
Value 2093.25 -> 2100.75
Globex 2084 -> 2098.75
Settlement – 2092.25
Weekly Numbers
Range 2084 -> 2130.50
Value 2084-> 2121.50
S1 - 2102, R1 - 2157.75
Daily Numbers
Range 2087.25 -> 2106.50
Value 2093.25 -> 2100.75
Globex 2084 -> 2098.75
Settlement – 2092.25
Today only - 2102.50, 2120
Key Levels: 2184, 2134.75, 2104, 2089.25, 2084, 2006, 1950.75, 1904, 1817.75, 1788.75
Key Levels: 2184, 2134.75, 2104, 2089.25, 2084, 2006, 1950.75, 1904, 1817.75, 1788.75
