The market has been very volatile, with a lot of tradable swings in both directions. On Wednesday we had 9 swings of 4+ points... they are listed below:
On Tuesday we had more than that. Just having some patience to wait for the upside or downside to stall/reverse set them up both ways. For now expect the same as long as the 1090.50-1091.00 PowerZone is not broken and held. The futures settled well above fair value, so upside follow-through is factored in if the futures don't drop overnight. If there is early strength on Thursday, it should reverse within the first 40 minutes or else the market is very strong. If the market obliges by reversing any early strength, look for signs of a reversal on a pullback to take a trade on the long side. A pullback should go further than the 1093.50 PowerZone if the upside is going to remain the path of least resistance.
Disclosure: no positions