XXXX: Near-Term Bearish S&P 500 Clues, Avoid XXXX Right Now (NYSEARCA:XXXX) seekingalpha.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from seekingalpha.com Daily Mail and Mail on Sunday newspapers.
Author: David D Dube (a.k.a. PTGDavid)
Website: Polaris Trading Group
Tuesday’s Session was Cycle Day 2 (CD2): Price continued to power higher surpassin
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.
…
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.