Tuesday’s Session wasCycle Day 1 (CD1):Price did produce a shallow decline during the RTH Session, but was well below average, as prior Trend Day bullish momentum remained largely intact. Range was 27 handles on 921K contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us intoCycle Day 2 (CD2): Bullish momentum is anticipated to remain intact heading into the final few days of 2021. The last “big” event of the year will be Friday; JP Morgan’s Option Collar expiration trade. Expectation for CD2 is continued sideways light volume consolidation with a bullish lean. As such, estimated scenarios to consider for today’s trading.