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OP: ES Drop and Pop; Selling the Rallies
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OP: Will The S&P Take A Breather During The Fed s Two-Day Meeting?
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Tuesday’s Session was
Cycle Day 1 (CD1): This day unfolded as a “normal” Cycle Day 1 as the anticipated decline did unfold, fulfilling the Average Decline Objective of 4122. Program Selling persisted all session and was capped-off with a Market on Close (MOC) Sell Imbalance of $1.3 Billion. Range was 68 handles on 1.249M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into
Cycle Day 2 (CD2): Normal price action for this cycle day following a directional trend, is for initial continuation of the previous momentum (down), then finding a stabilization zone to consolidate recent activity. As such, estimated scenarios to consider for today’s trading.
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