I turn dials and fiddle with knobs to hone in on harmonic rotations
Joined Oct 26, 2011
4,121 Blog Posts

Building Energy For A Powerful Move

The overnight session was all buy side as the /ES contract continues to print a near-perfect sine wave across time.  The action looks to be building up plenty of energy, and I suspect the next move away from the large balance area will be a meaningful one.

The bracket extremes on this gyration range from 1694 – 1680.  The action within these prices encapsulates all of this week’s trade.  As I type, the bulls are pressing up against these upper limits, printing the 1694 handle about an hour back.  The momentum is certainly theirs to run with, should the buyers press their initiative early on.

Let’s not make this any more difficult than it needs to be, if we sustain trade > 1694, we’ll be targeting the 1700 century mark. 

Should we trade decidedly lower, or perhaps see a failed push by the bulls, I’ll be looking for signs of buyers first at 1687, then again at 1683.  Failure to hold these levels could introduce selling into the market, pressing us to test 1676 and perhaps even Friday’s low at 1670.50.

I’ve noted these interesting levels on the following market profile chart:


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One comment

  1. RILEY

    I’m sorry, I’ve turned into your resident troll, but your blog keeps popping up in my side bar and you are SO COMPLETELY offensive it blows my mind. The reason the n-word is offensive is because it is part of a mechanism that has kept a group of people disenfranchised since the horrible beginnings of race relations in this country. It’s a basic way to discount someone’s humanity based on race alone.

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