We failed to get to the high, now we are moving towards the low of the range (or presumed low). If we fail to get to 2020 (or below), then we are in a narrowing range. That means the knock-on effect is that we could get some tough action.
So far, the action is fine. Most days we are still managing 20 points or so. For today though, I'm not looking for too much from the longer term picture other that downside moves should have better follow through. Upside I see chop.
So far, we are below the major distribution from last week. So an eye on 2049.25 if we move up.
We have had a good move down over the past few sessions, so a move up from here, doesn't necessarily mean we are done to the downside.
Todays Plan:
- watch 49.25, if it holds we could have a good run down. It has held overnight, so that may actually be played out
- Look for a break of the overnight low to give us a decent downside run but play the upside more cautiously as it may be choppy
- Other than that follow Fridays VAL/VAH/Range and the intraday volume steps
Weekly Numbers
Range 2038.50 -> 2079.75
Value - 2049.25 -> 2067.25
S1 - 2028.25, R1 - 2069.50
Daily Numbers
Range 2038.50-> 2063.50
Value 2047.25 -> 2063.25
Globex 2035 -> 2049.25
Settlement - 2043.50
Long Term 2100, 1996.75, 1920, 1833.75, 1804.75
Todays Plan:
- watch 49.25, if it holds we could have a good run down. It has held overnight, so that may actually be played out
- Look for a break of the overnight low to give us a decent downside run but play the upside more cautiously as it may be choppy
- Other than that follow Fridays VAL/VAH/Range and the intraday volume steps
Weekly Numbers
Range 2038.50 -> 2079.75
Value - 2049.25 -> 2067.25
S1 - 2028.25, R1 - 2069.50
Daily Numbers
Range 2038.50-> 2063.50
Value 2047.25 -> 2063.25
Globex 2035 -> 2049.25
Settlement - 2043.50
Long Term 2100, 1996.75, 1920, 1833.75, 1804.75
