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The September S&P E-Mini contract has fired NR4, Inside Day, 2 Day ROC Buy, and 90-10 High Continuation signals for today’s trading. The NR4 signal tells us to expect range expansion and a pickup in volatility. The Inside Day signal is fired when the day's trading occurs within the range of the prior day. A subsequent breakout of an Inside Day's range typically points the way of the next trend move. The 2 Day ROC Buy signal implies that today's principal trade direction should be to the upside. The 90-10 High Continuation signal tells us that yesterday's late day move higher is likely to continue on into today. Cycle Indicators (chart at right) appear as if a short term cyclical top has recently been marked, but both the larger and more immediate trends are to higher prices. Although both the 2 Day ROC Buy and 90-10 High Continuation signals are suggesting further upside, the NR4/Inside Day signal combination tells us to be prepared for a large impulse move in either direction. Trade the break of yesterday's 1968.25 high to 1958.25 low range with a stop and reverse on the opposite side as the entry. Price action relative to today's 1964.50 Daily Pivot level may provide clues for earlier entry. To learn how to trade these setups every day Click Here!
Disclaimer: trading involves significant risk and is not suitable for everyone.