Good Morning – Today is Series S4L NORMAL & very iif with the SPILL UP… Last week entered DLST, completed the Gauntlet, and got the QUAD WITCH Expiry out of the way… SUMMARY: We may have been operating under a low confidence clock 5-7 sardines per day but we sure as heck had the meaningful PRICE PRICE PRICE work combined with the specific CATALYST (the YELL reaction) and a MUTED EXPIRATION except for the final liquidation from 2:16 forward and that liquidation will be revisited in the HONING SECTION…
VOLUME is a TELL, TIME is a STANDARD DEVIATION, and PRICE IS YOUR ARSE… After trapping the BEARS on the IFST TURN from UNDER the COMMITTED 2357 SPOT on Thursday March 10, the bears were unable to take out those lows on the TEST this past Tuesday. In fact a brief overshoot of the 2357 SPOT on the DAY BEFORE THE FED (setting up the FED DAY) provided the large contract LOW OF THE WEEK 23456 BIG CONTRACT, 2354.75 E-MINI. In addtion, Mrs. Yellen has been a low odds fade initially on her public outings. This time was not different.
ALL WEEK we concentrated on tta which matters: PRICE and the PRE-ID’S. CONTROL OF THE 2365.6 WEEKLY PIVOT, HOLDING OR KILLING 2357, getting back to the 2374 SPOT and more importantly going after the 2385 SPOT where the BULLS regained control of the chart… Regaining that control was not a slam dunk and STILL IS NOT A SLAM DUNK as it was doe on FED ANNOUNCEMENT move but on a same day basis CLOSED BELOW 2386 CASH BIG FIB. THE CASH PRICE TIED TO THE 2385 SPOT basis the MARCH contract when it was assigned…
FRIDAY, the BULLS were STOPPED from taking out the TIGHT T”s 2383.8 H and 2383.1 L and their function was expounded upon in the COMMENTARY w/ the HOD only reaching 2382.25 ES, 2382 BIG CONTRACT.
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