I don’t have much by the way of commentary this morning. The market proved strong overnight mostly during the European session and since printing new all-time highs at 1695.50 we’ve seen a bit of digestion.
Continuation seems the most likely scenario, first to the measured target of 1696.50 and perhaps the 1700 century mark.
In case the market begins to break down and trade lower, we have several key reference points, including a bias zone from 1688 – 1687.25 meaning, you want to stalk long entries above, and shorts below when day trading.
I’ve noted the aforementioned levels and made note of the healthy auction taking place this week on the following market profile charts:
