Bands for the day. Good luck to all.

Here are my greenies. There is not a lot between here and 2000

52.75
40
31.5/30.5
94.25/93.5

since we are shooting for the moon, the greenies on the upside are

57
63.5

i expect really strong resistance in the low 60s so do not have anything beyond that on my radar but judging by the way it is looking right now, might have to start pulling them up soon!

The O/N inventory is long so there is a chance for adjustment to that this morning. Also the ON midpt is way down there so it should be an interesting open. Last night it looked like we might gap down but now there is a chance we might gap up!

Weekly 1.5 band @ 65.6 and daily 1.5 band at 60.75 with daily 2 band at 69

here are my lines.....Tuesday and wednesday made a nice bell curve with 39.50 as the center that would be my key fade target this morning if buyers don't step up....greenie magnets are on the chart.....1.28 weekly band is up at 54 ...just an fyi.......in case the moonshot actually happens....so we have a two day balance and we should ( in theory) do only two things...break away an keep going..or ...break away and fail and come back to center and then possible break out of other side, If we are to get back to the center then that 42.50 will hold the key...my money is going to be on the failure and the trade back to the 39.50 and then that implies the 37.25 greenie will print....watching 42.50 closely

you are very bullish newkid....why ?

not bullish at all. i thought my lines last night were only for the short side but after looking at ON i thought i should look at the upper end as well.

if anything, for the short term i think we go to the downside as well but will see the first 2 mins before making the first decision

Originally posted by BruceM

you are very bullish newkid....why ?

Bruce, also we are in a ~20 day balance with the upper end being 61. That is why I pointed that out. We are in this balance from 1981.25 to 2061. So over the next few days I will keep an eye on that but i am not certain they get there today

notice where the computer session low is ....

ok...guess it was all that talk about going to the moon and the 65 etc.......thanks....just wanted to make sure u weren't too biased..cool !!

i was biased short yesterday and that did not help me at all. i am trying my very hard to keep an open mind!

Bruce,

In hindsight, my answer to your question should have been the following:

We have been 1 time framing higher for the past 2 days and we are bouncing off the low of an ~20 day trading range with the next target at 2061. With that information in mind and based on the ON trading, I will continue to look at the market and see if value is higher today and if we continue 1 time framing higher. I need the market to tell me otherwise.

I know that this does nothing for you now since it is after the fact but for my selfish reason of learning, I needed to share that. :)

Originally posted by BruceM

you are very bullish newkid....why ?