- Technically the MKT is "on the fence" with the potential to go in either direction or nowhere. Pick your points and have no expectations, as the likelihood of this MKT trading sideways is high.
- On the SELL side BREAKOUT, FADE and REVERSAL strategies are valid, however profit and position risk management should be aggressive and anticipated. The pivotal nature of the session does have the potential to be the starting point for a new move. However, the probability of any trend action is more likely to just be the MKT defining its new consolidation extreme.
- On the BUY side BREAKOUT, FADE and REVERSAL strategies are valid, however profit and position risk management should be aggressive and anticipated. The MKT is "on the fence" and does have the potential to be the beginning of a new trend move. The probability of a new trend move is low. However, any price trend action is more likely to just be the MKT defining its new consolidation extremes.
Today's PRICE MAP Performance for FV
Wrap Up
- With an MC Value of +2 and a NEUTRAL DIGESTION Market State, today's expectation is for a digestive trade within the Critical Range. The R Level is above the market at the UP communicating to traders that they should be looking to get short below this level. At 11 A.M. the market traded up to the 124'180 level where it was met with resistance. After a brief pullback the market made another rally up to the UP. From here a SELL UP FADE strategy could have been executed as it is in line with our market expectations as well as sentiment bias for the day. After the intraday double top at the UP, the market sold off to the DIR where profits could have been realized. Due to the pivotal nature of this Market State, position management should be tight and profits should be realized sooner rather than later.
