ES Update

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So far, going just as expected with the touch at 2094 followed by selling back to the centerline of the ST range between 1998.50 and 2110.25.  This is a contracting market with embedded ranges and price coiling tighter as we approach year-end OpEx and the FOMC rate hike announcement.

The VST range is now 2040 to 2105 and if this continues to go by the usual pro modus operandi then we could potentially see a bounce inside the shaded zone between 2040 and 2056.25, which represents the ideal entry zone for the VST timeframe with a 3:1 gain to risk ratio targeting the VST range top at 2105.  As I type, price is at the top of that ideal entry zone and aligned with both the center of the ST range at 2054.25 and the bottom rail of a provisional ST trident channel that would be formed from 2040, should that provisional ST low hold up over the coming days.

This continues to be ‘run out the clock’ type of action until/unless we get a breakout of the VST range as defined above.

…my .02

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