December 2

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December 2 Pre-Bell Update

• Overnight Inventory is low (using Friday’s close as reference). We are going to open inside of Friday’s range so gap rules don’t apply. We are currently trading above/outside Wednesday’s range which was the last RTH session last week.

• VWAP is currently sitting at 6045 which adds confluence to the 6043 BZ level. At 6045 we also have the ETH Halfback.

• Like I mentioned in the plan, I will be monitoring the 6043 BZ level/area which means I will most likely look for a long near/at VWAP if we trade there again.

December 2 Plan

On Friday we saw a very strong close to the month with a new All Time High and a tag of the Balance Zone’s halfback at 6057. Friday’s rally left a couple of sets of single prints on the profile. I will be paying attention to the 6043 BZ level/area since we have some single prints in that area and where we have Tuesdays’s high.

• If buyers can find support above Friday’s high, which is also last month’s high, I will be looking for a move towards the 6086 BZ level. If we open within Friday’s range, I will be looking for responsive buyers within the single prints. For example, I will try a long near 6043 looking for a move back to the 6057 BZ level.

• For sellers it’s all about getting us back below the 6028 BZ level in order to end Daily One Time Farming Higher which could increase the odds of seeing a retest of the 6000 psychological level.

• Thursday’s and Friday’s shortened sessions are treated the same way I would treat an ETH session.

Bullish Scenarios:

• Longs above 6043 or above 6057 targeting 6086.

• Longs above 6086 targeting 6115.

Bearish Scenarios:

• Shorts below 6028 targeting 5998.