How to Handle Triple Digit Swings

SHORT-TERM (today and 5 days out)

For Friiday, 2152.00 can contain initial strength, below which 2128.25 is attainable intraday and able to contain selling through next week. Holding above 2128.25 should yield 2226.25 over the next several weeks, while closing today below 2128.25 indicates 2116.00 on Monday, long-term support able to contain selling through the balance of the year and above which a secondary long-term buy signal remains in effect. A surprise settlement today below 2116.00 indicates 2048.25 over the next several weeks, lower trade expected into later year. Upside today, pushing/opening above 2152.00 signals 2169.75, able to contain session strength. A settlement today above 2169.75 indicates 2191.00 within several days where the market can top out through next week as well as the level to settle above for yielding the targeted 2226.25 trendline within another full week of activity.


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