RANGE BOUND DAY

We were up late in the evening playing the ES, and had a 7 point run   1277.5 was the target being discussed, and it remained important today for the US Market.  PA stay close to that level, setting the tone for a range bound day.

TLs indicated a bullish bias at the open.  Longs were favored until the reversal short at the 1277.5.  A rising TL at B5 was used to project a wedge developing.  BOs were used for long positions.  For those more conservative, the 1277.5 was available and we discussed waiting for the first pullback to go long in leg 2.

The earlier wedge forecast TL was extended, and PA returned to the TL and the 50CB level.  The balance of the day was long bias.  The + runs were shared today in the chats as a benefit to other traders.  For the blog, they are removed.  Have a great weekend.


BIG PICTURE

TRADE DAY