
Still unresolved at the highs. Volume just under 1.3M contracts yesterday - on the low side. Just waiting for it to break one way or the other.

Eyes on value. We are above value for the week, so we could turn down any time now for a value trade.

Yesterday was a big up day on mediocre volume. Overnight we've had low volume so far and very narrow action. It all seems like there's just not much willing to trade up here.
As such, it all makes you think that the downside is almost inevitable. Still, I'm going into today with no bias, partly because of employment numbers and partly because it might just be time for the market to take a probe up through the high.
As mentioned before, I won't take trades at the highs as I think there are too many different opinions and too much chance of manipulation up here.
Plan
- watch volume after the 8:30 am EST releases to see if it picks up
- if we are still around 2100-2105 into the open, wait for a break away from the overnight range in either direction
- if we don't get a pick up in volume and we stay around 2100-2105 - don't trade
Weekly Numbers
Range 2083.25 -> 2105
Value - 2091.25 -> 2101.75
S1 - 2061.50, R1 - 2115.50
Daily Numbers
Range 2086.75 -> 2103.50
Value 2088 -> 2098
Globex 2101.75 -> 2105
Settlement - 2103.75
Today only - 2082.50
Long Term 2105.25, 2100, 1996.75, 1920, 1833.75, 1804.75
As such, it all makes you think that the downside is almost inevitable. Still, I'm going into today with no bias, partly because of employment numbers and partly because it might just be time for the market to take a probe up through the high.
As mentioned before, I won't take trades at the highs as I think there are too many different opinions and too much chance of manipulation up here.
Plan
- watch volume after the 8:30 am EST releases to see if it picks up
- if we are still around 2100-2105 into the open, wait for a break away from the overnight range in either direction
- if we don't get a pick up in volume and we stay around 2100-2105 - don't trade
Weekly Numbers
Range 2083.25 -> 2105
Value - 2091.25 -> 2101.75
S1 - 2061.50, R1 - 2115.50
Daily Numbers
Range 2086.75 -> 2103.50
Value 2088 -> 2098
Globex 2101.75 -> 2105
Settlement - 2103.75
Today only - 2082.50
Long Term 2105.25, 2100, 1996.75, 1920, 1833.75, 1804.75

