Prices opened lower this morning after trending down during the overnight session. It appears prices are pulling back on the daily chart to retest the midline of the Envelope Bands, which would be expected, even if prices are going higher eventually. There is a large overhead gap that prices may attempt to fill before the
So far this morning, the trend and bias are both down and there is a clear two-tiered channel working lower. Stay with the trend until the price action shows us otherwise. There will probably be mixed trading at times, and prices could even end up trending higher before the day is over, so stay flexible
Prices traded lower during the overnight session but have been mostly sideways this morning. There is a slight downward bias at this point, but things are also mixed. There is an overhead gap on the chart and if prices attempt to fill that gap, that target is up at 6857.75, so make note of that
The big sell off on Thursday night and into Friday morning obviously reversed before the day was over on Friday and it appears the market is going to rally higher again from there. The close outside the long-term trendline did not occur, and the market rallied strongly into Friday afternoon. The trend and bias are
Prices are trending lower again this morning. The large overnight move has left another gap on the chart. If prices find support and turn higher in an attempt to fill that gap, that target would be way up at 6764.75. That seems unlikely at this point but never rule out the possibility. If prices do
Prices are trending lower this morning. We do have a break of the larger downtrend, and it appears prices are no attempting to retest the lows. Stay with the downtrend as long as it remains in play but note that there is a large overhead gap on the chart, and prices may attempt to fill
Prices sold off strongly during the overnight, pushing down to the mid-line on the Envelope of the daily chart, where they rebounded and are now trending higher. This looks to be a possible reversal, and that would be an obvious reversal location, but there are no guarantees on that just yet. Let this day play
The trend and bias have been down since just at the 8:30 AM CST regular session opening. Prices look as if they are trying to rebound some after the 9 AM CST PMI news took the market even lower. The overall bias is still negative, but that could be changing as I am typing this
Prices are mostly mixed and sideways this morning, although there is a mild downward bias at the moment. This day could go in either direction, but for now, I would treat it as a mixed day unless the downward bias picks up more momentum, or something else changes. Just follow the rules and keep your
Prices are trending lower this morning, which is not unexpected. I would expect prices to at least pull back and test the mid-line of the large channel on the daily chart. We could see prices push deeper than that, but that would be my guess at the first target to the downside. There is possibly