This commentary will focus on the first 60-90 minutes after the Opening Bell. However, our strategies can and will provide setups the entire trading day.
Overnight price action consolidated inside the prior day’s range.
With price action continuing to be in a strong multiple day market cycle phase 2 uptrend, we continue to be cautious and watch for eventually evidence of weakness and using the market cycle analysis, transition to phase 3 and then phase 4.
Pre-market price action near prior day’s highs.
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Price action not showing good evidence of follow thru, so sitting on hands today.