Prices are rallying again this morning. There was a gap up on the 8:30 AM CST regular session opening this morning, so that leaves an overhead gap that prices may attempt to fill before the day is over. If prices turn down, the target to fill that gap is down at 6826.75. For now, prices […]
Prices are mostly mixed this morning. There was a mild upward bias that begin just after the regular session opening, but that appears to have turned and started trending lower as I am typing up this report. If prices continue lower, watch for a possible measured move down on a second leg. That would create
Prices are mixed to up again this morning. There is a larger overhead gap this morning, and prices may attempt to fill that gap before the day is over. That target would be down at 6780.75. With the Thanksgiving holiday starting tomorrow, it will be interesting to see how the market reacts knowing there will
Prices sold off strongly just after the regular session opening, probably on news of retail sales and PPI. However, prices quickly found support and formed a V type bottom and quickly erased all of the loss. There appears to be strong resistance around 6726.00 – 6730.00 price level, so be very careful getting long into
Prices appear to have found at least a temporary bottom on Friday and while the rally fizzled some by the close on Friday, we are getting follow through buying to the upside so far this morning. The overnight rally has once again left a gap on the chart, and if prices do start trending lower
Things are mostly mixed and sideways so far today. Prices opened higher at 8:30 AM CST, leaving another gap on the chart this morning. Prices have attempted to fill that gap but have not quiet done so just yet. We could see another bounce once that gap is filled, but prices could continue lower or
Prices have rallied strongly again this morning, but like yesterday, there is a large gap on the chart, so prices could pull back in an attempt to fill that gap. If prices do start trending lower, that target is down at 6696.00. As of now, the trend and bias are up, although there is a
Prices are rallying strongly this morning. After being severely oversold yesterday, a rally is welcome and not unexpected. It appears that prices are putting in a bottom for the moment, but we need a couple of up days in a row of this to get a good idea if the low is in for the
A couple of items of note on the daily chart this morning. 1. Prices continued to trend lower overnight and into the opening this morning, allowing prices to create a new low on the retest and also create an oversold trigger on the Envelope Bands. 2. Prices have also made an almost perfect measured move
Prices trended lower during the overnight session creating an overhead gap on the chart this morning. Prices quickly filled that gap after the regular session opening at 8:30 AM Central time. Since that point in time, prices have been trending lower again. Things may be a bit choppy at times, so watch for mixed trading.