Monday Prep

We got an inside day on Friday following a failed attempt higher early on. Volume has been consolidating around the last two weeks HVN at 2773.00.

Overnight the range is 2749.75-82.00 versus settlement at 2767.50. I’m expecting buyers to hold the 71-73 zone if there’s to be any meaningful rally today or the market may continue to rotate back and forth again. Until sellers can take out last week’s low then my main expectation is for buyers to step in on dips. A push higher could accelerate as buy stops get triggered following the last couple of days action. Momentum and broad market strength are needed for continuation or we may see failed attempts.