Commentary below the numbers.
ZB – Continued to hold the top of the caution zone and broke up for a nice move to the first long target, holding the retest before the close. For today, looking for potential hold top of the caution zone 133’05 to maintain the long for target 133’24, failing that a potential hold of the bottom of the caution at 132’28.
CL – At 9.30 est RTH open it was below the caution zone and hit the first short target, which it held with the bulls battling to regain control between bouncing between the bottom of the caution zone and the first short target until they managed to haul it back up to the middle caution zone by the close. For today the CL is at a key level 103.25, the top of the caution zone. Overnight it bounced off the bottom of the caution zone, 102.25 And it now testing the top at 103.25. If it breaks out watch for a retest and hold but be careful of ping-pong in the caution zone.
SPY – Another up and down day yesterday around the bottom of the caution zone. At the open it came straight out of the bottom of the caution zone, retested it for a long time before the bulls brought it back above and held it to retest and fail the middle of the caution zone. For today it would be nice to see some conviction either way in the meantime watch out for those sharp moves out of the caution zone with failed retests bringing it back in. Caution zone is 169.70/169.52/168.91.
ES – Very similar story, with the bottom of the caution zone acting as the center line for the day, with the bears managing to get closer to the first short target. For today, same thoughts as SPY.
AAPL – Same, out the bottom although again a little more conviction from the bulls keeping it out of the caution zone but not enough to reach the first short target. For today, same thoughts as ES and SPY.
GOOG – Fell the bottom of the caution zone and bulls defended it for most of the day until retreating a little allowing progression towards the first short target. For today, looking to see if bears can apply a bit more pressure and keep below the caution zone at 879.15 and hit that first short target of 873.43
NQ – Spent all day up and down fighting the top and bottom of the caution zone. For today same story as SPY, ES, AAPL.
