Tuesday’s Session was
Cycle Day 1 (CD1): Normal CD1 unfolded as price continued its decline reaching Statistical CD1 Violation Extreme during GLOBEX Session. Price again pushed aggressively lower during the Opening Range, finding a secure low at 3804.75. The remainder of the session, price swung between Value Area High and Low of 40 handles. Late day rally drove shorts to cover closing the opening gap. Range was 91.25 handles on heavy 2.225M contracts exchanged.
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This leads us into Cycle Day 2 (CD2): Cycle Rally Objective (3868) has been fulfilled during the prior session. Expectation for today’s session is for continued elevated volatility as price searches for balance acceptance. As such, there are two estimated scenarios to consider for today’s trading.
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.
Written 8pm Tuesday evening for Wednesday’s trading
Tuesday’s Session was
Cycle Day 3 (CD3): Bullish price gap held back test, at which time price continued its upward trek fulfilling Cycle Objectives. Range was 29.25 handles on 1.106M contracts exchanged.
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This leads us into
Cycle Day 1 (CD1): Normal for CD1 is some magnitude decline with average measuring 3769.25. Price closed strong in the upper quartile of the prior range, thus, expectation is for a continuation rally for GLOBEX and RTH sessions. As of this writing (8pm Tuesday evening) price is pushing above Prior High (3797) and approaching CD1 Penetration Level (3807.50) There are two estimated scenarios to consider for today’s trading.
Written 8 pm Tuesday evening for Wednesday’s trading
Tuesday’s Session was
Cycle Day 1 (CD1): Most of the session was of the moderately choppy variety, as it was an “inside-inside” value type day. Price did eventually decline to the projected CD1 Average Decline Target (3772) before rallying back fulfilling Average Rally Target (3792.75). Range was 38.75 handles on 1.195M contracts exchanged.
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This leads us into
Cycle Day 2 (CD2): Part of this cycle’s rally is in place, so expectation is for potentially more consolidation activity before breaking out directionally. There are two estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 3800, initially targets 3810 – 3820 zone.
Written 8 pm Tuesday evening for Wednesday’s trading
Tuesday’s Session was Cycle Day 3 (CD3): Positive 3 Day Cycle Statistic was fulfilled as price held bid, but no further advancement following Cycle Day 2 sharp decline and recovery rally. Range was 31.25 handles on 1.092M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Core cycle objectives have been fulfilled. Normal for CD1 is decline with an average measuring 3648 handle. IF price can clear 3695 – 3700 zone, THEN bulls have the opportunity to push for higher prices heading into the Christmas Holiday. As Danny Riley (Dboy) says:
“Thin To Win”. There are two estimated scenarios to consider for today’s trading.