We are still in the same place as yesterday. Still looking to see if we can push down through the range we have been in this year and make headway downwards or if we'll return to the range high of 1929. Right now, there doesn't seem to be much willing to trade down past the years low.
We are just below the 1843 level overnight so that's the first hurdle to the upside from here.
Yesterday we were watching 33.25 and we got as high as 33.50 in the AM and then pushed through into the close. That doesn't look so significant today from the weekly profile but we have the day high on our list anyway today the middle distribution from the profile is below us a 1825.25. So I'm watching that as potential support.
We can see that overnight we've had a push up, so there could be an initial counterswing down when the stocks open.
Scenarios
1 - swing down off the open with little strength and then a push up, eventually testing 1929 (maybe not today)
2 - push down through 1804 to search for sellers.
For scenario 2 - I'll play the downside but I think there's been no sign of sellers there so far, so I think (opinion only) that any push through will fail. That's just opinion, I'm not married to it....
I see no reason for a true push down to fail before 1804 but sellers backed off at 1805 yesterday so if we get close, watch out for a sudden lack of guts on behalf of the sellers.
Weekly Numbers
Range 1802.50 -> 1884.50
Value - 1823.25-> 1860.75
S1 - 1847, R1 - 1922
Daily Numbers
Range 1802.25 / 1805 -> 1834.75
Value 1811-> 1836
Globex 1822.50 -> 1843.75
Settlement - 1824.50
Today only - 1835.35
Long Term 2109.25, 2006, 1929.25, 1843, 1814, 1773.75
