October 2

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Very strong trend day today with buyers showing up above the 6700 psychological level and then taking us into yesterday’s upper distribution. Once above the prior day’s high we saw another aggressive move that replied the poor high plus new All Time Highs.

• We have a couple of sets of single prints in the profile. The top set goes from 6747.50 to 6751.25 while the bottom set got from 6735.75 to 6738. These are areas I will be monitoring for potential responsive loans in the case that we get a re-advertisement of prices within today’s range.

• Today’s high is another “poor high” which means that the current All Time High, once again, is poor. This could mean that the “up auction” hasn’t finished yet since auctions are supposed to end with excess.

• With today’s move buyers were able to look above the current Balance Zone’s halfback at 6758. Going into tomorrow’s session, I will to be monitoring for continuation into the upper half of the Balance Zone.

Bullish Scenarios:

• Longs above 6744 or above 6758 targeting 6787.

• Longs above 6787 targeting 6800 followed by the top of the Balance Zone at 6817.

Bearish Scenarios:

• Shorts below 6729 targeting 6700.

• Shorts below 6700 targeting 6670 followed by 6641.