Prior Session was Cycle Day 1 (CD1): Price did produce a decline during the RTH Session, finding support at our stated LIS (4044), then rallying into the closing bell. Prior range was 91 handles on 1.663M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Three-Fourths of this Cycle’s Rally is in place as bulls have the momentum to fulfill the upside objective (4120). Pullbacks are anticipated to elicit a buy response with current momentum favoring longs. As such, estimated scenarios to consider for today’s trading.