Author: David D Dube (a.k.a. PTGDavid)
Website: Polaris Trading Group
Prior Session was Cycle Day 2 (CD2): This session unfolded as a normal Cycle Day 2 c
Author: David D Dube (a.k.a. PTGDavid)
Tuesday’s Session was
Cycle Day 2 (CD2): Because of the holiday shortened session, the normally expected decline for Cycle Day 1 was delayed into Cycle Day 2 Morning Session. The Afternoon Session reflected a normal Cycle Day 2 consolidation type trade. Market on Close Buy Imbalance was $1.1Billion.Range was 40.50 handles on 1.287M contracts exchanged.
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This leads us into Cycle Day 3 (CD3): Price is currently (as of the close) below Cycle Day 1 Low (3947). We would be expecting some magnitude rally for this CD3 to recover the CD1 Low. As such, there are two estimated scenarios to consider for today’s trading.