Tuesday’s Session was Cycle Day 2 (CD2): Opening Drive propelled price higher to reach CD2 Penetration Level (4708) and 3-Day Cycle Objective (4702). Range was 39 handles on 993k contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Bullish momentum may push price higher, although since 3 Day Cycle objectives have been fulfilled, a corrective pullback could begin at any time. We’ll mark today as a “wild-card” for direction, with primary lean favoring the bulls. As such, estimated scenarios to consider for today’s trading.