not only did we see the Dow up 5pts but the Crb index rose 1.44% ...giving my level on that up to 3636 ...
at the end of last week I thought the SPI would rotate around 3760 ..but it has chosen to find this level as resistance ..
it turns out our VALUE price for this current trading bracket is 3725 ..above it we've been to expencive and below it too cheep ..the major levels for the bracket extremes are 3685 and 3758
thats a 73 point trading range ....if the resistance holds we'll see 3725 again today for sure ..
there's been what appears to have been some aggressive buying that has actually pushed the market knowere..personally it 's looked quite strange too me ..
like yesterday i'm planing on fading the extremes ...it's not clear to me where the market is headed ...but I still think with the CRB index being sold off where overvalued so i have a soft bias to the short side ..
feral friday, page-2
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