Pretty indecisive day yesterday. We got a roll over off the highs but no volume. We then couldn't start working through the high volume area from last week.
We can see the step in the profile her at 2283.50 and that's a line in the sand and below there we expect range bound behavior as it's going back to the range from last week. We could in theory see buyers jump in, in size if we lift from here but I think it's fairly unlikely.
Yesterday was stuck pretty much in yesterdays range. As usual - with a week where Monday trades within Fridays range, we have to be on the lookout for a range week.
Plan
- After a slow start to the week, expecting a slow day - so looking for a trade off the open as that might me all we have
- looking for momentum upside as we have held 83.50 but not expecting much
- with low momentum, will look to fade any move to 94, hard to say where we should look to fade any moves down at some point, 84.50 seems obvious but I suspect that even if we have a range week, the range needs to expand a bit before we settle into it
Weekly Numbers
Range - 2262.25 -> 2294
Value 2265.50 -> 2278.50
S1 - 2271, R1 - 2302.75
Daily Numbers
Range 2283.50 -> 2291.50 / 2294.25
Value 2288.75 -> 2293.25
Globex 2284-> 2291.25
Settlement – 2290.25
Today only - 2283.50
Key Levels – 2178.75, 2129.50 , 2099.75, 2084, 2078.75, 2000.75, 1945.5,1898.75,1812.5,1783.5
Plan
- After a slow start to the week, expecting a slow day - so looking for a trade off the open as that might me all we have
- looking for momentum upside as we have held 83.50 but not expecting much
- with low momentum, will look to fade any move to 94, hard to say where we should look to fade any moves down at some point, 84.50 seems obvious but I suspect that even if we have a range week, the range needs to expand a bit before we settle into it
Weekly Numbers
Range - 2262.25 -> 2294
Value 2265.50 -> 2278.50
S1 - 2271, R1 - 2302.75
Daily Numbers
Range 2283.50 -> 2291.50 / 2294.25
Value 2288.75 -> 2293.25
Globex 2284-> 2291.25
Settlement – 2290.25
Today only - 2283.50
Key Levels – 2178.75, 2129.50 , 2099.75, 2084, 2078.75, 2000.75, 1945.5,1898.75,1812.5,1783.5
