Author: David D Dube (a.k.a. PTGDavid)
Website: Polaris Trading Group
Tuesday’s Session was Cycle 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 into Cycle 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.
1.) Price sustains a bid above 4780, initially targets 4792 – 4798 zone.
2.) Price sustains an offer below 4780, initially targets 4770 – 4765 zone.
*****The 3 Day Cycle has a 91% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.
For more detailed information for both bullish and bearish projected targets, please visit: PTG 3 Day Cycle and/or reference the Cycle Spreadsheet below:
Link to access full Cycle Spreadsheet > > Cycle Day 2 (CD2)
Thanks for reading,
PTG David
