The Dow Futures have been an easy SELL at the top of the Range.
BUY Side anticipates another BUY at the bottom of the Range.
The YM Closed September @ 14,682 and with the High for October
at the level of 15001.25 it is well off the prior Months Close, as
well, and more importantly - well off the October Highs.
The Intra-Day Price swings have been Volatile, with what was
hoped to be a solid rotation and lift to 36700 to 37200 as the
Economy reopening trade took hold.
Delta tossed a large wrench into those Aspirations...
Recently, we have seen wild stops runs during Globex, only to be
slammed into @ the witching hours during RTH.
The lower Price Objectives for the YM begin several thousand points
below @ 31K and extend down to Fill the Monthly Gap @ 28.2K.
The Equity Complex continues to weaken, Day after Day, regardless
of short term gyrations which entice those content on reliving the
past.
4/5 has a long way to go... more for TECH and the S&P500, as they
will be hit the hardest.
Today Price action in the YM has been in excess of a 350 Point Range
with a Dip into the 33Ks.
The Trend is clear for now, lower and lower, cautiously avoiding a
reset of the lows...
We do not believe they will hold, but induce more selling to the
200EMA @ 33266, a third test of the Lows we would not trust.
BUY Side anticipates another BUY at the bottom of the Range.
The YM Closed September @ 14,682 and with the High for October
at the level of 15001.25 it is well off the prior Months Close, as
well, and more importantly - well off the October Highs.
The Intra-Day Price swings have been Volatile, with what was
hoped to be a solid rotation and lift to 36700 to 37200 as the
Economy reopening trade took hold.
Delta tossed a large wrench into those Aspirations...
Recently, we have seen wild stops runs during Globex, only to be
slammed into @ the witching hours during RTH.
The lower Price Objectives for the YM begin several thousand points
below @ 31K and extend down to Fill the Monthly Gap @ 28.2K.
The Equity Complex continues to weaken, Day after Day, regardless
of short term gyrations which entice those content on reliving the
past.
4/5 has a long way to go... more for TECH and the S&P500, as they
will be hit the hardest.
Today Price action in the YM has been in excess of a 350 Point Range
with a Dip into the 33Ks.
The Trend is clear for now, lower and lower, cautiously avoiding a
reset of the lows...
We do not believe they will hold, but induce more selling to the
200EMA @ 33266, a third test of the Lows we would not trust.