JoeRodTrades

Another Explosive Move Is Possible Tomorrow

CME_MINI:MES1!   Micro E-mini S&P 500 Index Futures
This is a tight inside value day on the Informant Pivots, just 19.98 in difference from the high/low-value pivots. The last explosive move came form a 36.85 point difference and that was yesterday (9/28) for a 86 point move. I expect a large move leaning to the upside tomorrow. I believe yesterday (9//28) was indicative of bullish reversal based on volume and the simple fact that price closed above what I coined the bearish/bullish Mason-Dixon line. We are in an HnS Pattern on the daily and on the intraday right shoulder (there is a HnS pattern) so I truly believe this is a bear trap. CRP for floor pivots (central pivot range) is extremely tight as well but, it has a slightly lower value bias than the Informant Pivots.

The case of the bulls is the capitulation volume on 9/28 (daily) along with intraday (before close yesterday) coupled with bullish convergence. Price has also, as of writing this, crossed through the 4359.26 bearish reversal level

Levels to to look out for tomorrow

  • 4350ish - Bear/Bull Mason-Dixon line
  • 4359.26 - Bearish reversal (of course, as with all of these we need price action in our favor)
  • 4340.24 - Bullish reversal
  • 4368.73 - Bullish continuation until 4384.49
  • 4330.77 Bearish continuation until 4315.21

  • Bulls take control of the week at 4378.75
  • Bulls take back official control of daily market at 4472

  • To confirm bullish look for Informant OBV to run through 1.90M at open
  • To confirm bearish look for volume on Informant OBV to reject the 1.90M level at open

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