Well, back to trading, although I can't say I'm overly excited...
Volume is down, Friday was 1.4 million and the range is down. We haven't seen a 4/5 point day yet. Unless we see news to move the market, it'll probably be like this (or worse). Most summer times we see this action till the end of the first week in September.
For the past 2 weeks the range has been 2165.50-2190.75 but let's not forget the earlier range 2143.50-2177.75
Value-wise, last week we had most trade between 2176.50-2184 (the value area), so watching that into this week.
Ranges are still around 10 points. So obviously no 10 point stops and 50 point targets.
Plan
- Neutral bias.
- looking for longs at 65.50 and 76.50
- looking for shorts at 84 and 90.75
- staying wary of a break of 2165.50-2190.75 but not
- looking for early trades off high volume nodes from overnight
- other than that - wait for 15-30 mins for a range an intraday range form and fade that
Weekly Numbers
Range 2165.50 –> 2190.75
Value 2176.50-> 2184
S1 – 2167.75, R1 – 2193
Daily Numbers
Range 2172.50 -> 2183 / 2184.25
Value 2176.50 -> 2181.50
Globex 2175.50 -> 2184.50
Settlement – 2181.74
Range Levels – 2143.50-2177.75, 2165.50->2190.75
Key Levels: 2110.75 ,2096, 2090.75, 2012.75, 1957.50, 1910.75, 1824.50, 1795.50
Plan
- Neutral bias.
- looking for longs at 65.50 and 76.50
- looking for shorts at 84 and 90.75
- staying wary of a break of 2165.50-2190.75 but not
- looking for early trades off high volume nodes from overnight
- other than that - wait for 15-30 mins for a range an intraday range form and fade that
Weekly Numbers
Range 2165.50 –> 2190.75
Value 2176.50-> 2184
S1 – 2167.75, R1 – 2193
Daily Numbers
Range 2172.50 -> 2183 / 2184.25
Value 2176.50 -> 2181.50
Globex 2175.50 -> 2184.50
Settlement – 2181.74
Range Levels – 2143.50-2177.75, 2165.50->2190.75
Key Levels: 2110.75 ,2096, 2090.75, 2012.75, 1957.50, 1910.75, 1824.50, 1795.50
