YM - 1000 Ticks of RangeThe Dow Futures have been an easy SELL at the top of the Range.
BUY Side anticipates another BUY at the bottom of the Range.
The YM Closed September @ 14,682 and with the High for October
at the level of 15001.25 it is well off the prior Months Close, as
well, and more importantly - well off the October Highs.
The Intra-Day Price swings have been Volatile, with what was
hoped to be a solid rotation and lift to 36700 to 37200 as the
Economy reopening trade took hold.
Delta tossed a large wrench into those Aspirations...
Recently, we have seen wild stops runs during Globex, only to be
slammed into @ the witching hours during RTH.
The lower Price Objectives for the YM begin several thousand points
below @ 31K and extend down to Fill the Monthly Gap @ 28.2K.
The Equity Complex continues to weaken, Day after Day, regardless
of short term gyrations which entice those content on reliving the
past.
4/5 has a long way to go... more for TECH and the S&P500, as they
will be hit the hardest.
Today Price action in the YM has been in excess of a 350 Point Range
with a Dip into the 33Ks.
The Trend is clear for now, lower and lower, cautiously avoiding a
reset of the lows...
We do not believe they will hold, but induce more selling to the
200EMA @ 33266, a third test of the Lows we would not trust.
