Tuesday Prep


Below is the RTH daily chart with monthly volume profiles behind and a 5 year composite profile. 

The bullish reversal from last week's sell-off has not yet been tested in RTH, but overnight has seen a test of one of the support areas from the rally.

The daily Globex chart below shows the current range within a range, balancing at higher prices around the 2265.00 HVN. The overnight range is currently 2257.50-67.50 on higher volume than we've recently. 

The zones for today are below. The 57.25-58.25 is an important support zone to hold or I think we could see an attempt to test last week's low. Similar with the 66.50-67.50 overnight resistance; If that breaks and holds, then main expectation is for an attempt for the all time high. We may continue to see two-sided action around the 65 HVN, but the range will be expected to break soon with a good amount of energy either way.

On the downside, the 50-51 zone would be the last key support for responsive buying I would expect before we could see long liquidation. The 27.25-29.25 zone would be where longer time frame support would be expected on first test.