Good morning – Today is SERIES S4L slight iffy and the SPILL is UP. Yesterday’s commentary focused upon the larger picture expressed predominantly in MECHANICALLY VALID EW counts followed by HOW Friday occurred, WHAT did occur, and WHY from a EW perspective the SETUP easily and readily unfolded when the IDEAL CONDITIONS EXISTED. One pithy truism, IT IS HARD TO SAVE A TREND (SD day) DOWN DYA ON A FRIDAY.
Monday reared its’ head with another ‘truism’ unfolding: IT IS HARD TO PUT BACK TO BACK DAYS OF SAMENESS during the 8 TRADING days OF EXPIRY. Following a day such as Friday, one looks for another extended and expanded range down day OR a reversal day which plays out as ROPE FOLLOWS EXPANDED consolidation style day with reduced more normalized range AND a final choice of a REVERSAL EXPANDED RANGE SNAPBACK DAY.
MORE and MORE IMPORTANTLY…
DO NOT, and I am being as emphatic as possible, DO NOT mistake those 3 paths as being obtuse or nebulous as ‘buy the dips/sell the rips, buy low/ sell high,’ because price will be GOING OVER PRIOR CRITICAL PRICING MARKERS on actually has ready made parameters to identify, contrast, and hone in upon WHAT IS ACTUALLY HAPPENING and which of the 3 outcomes is playing out in the here and now. Because that is available, one can clearly say ‘this is where I am surprised by interday outcome’ (strength or weakness) as well as quickly ferret out which of the 3 choices is happening.
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