Composite: Another rally day yesterday. We extended the range of the micro composite up to the 1295 area. After two days of big up movement probabilities favor an inside day. Expected range 1295-1287.
15 min: Key zones marked. Yesterday was a 'd' shaped profile indicative of long liquidation which makes the underlying market structure potentially weaker. Day type yesterday was normal variation. T0his generally shows that OTF is valuing new information.
5 minute: Zones marked.
Globex: Overnight condition is range bound as of now ( 6:30 AM CST). Expect more of this during the RTH session. Hypotheses/Plan: Overnight inventories are in balance. This means not much has changed from session to session. Expecting an OAIR and a balancing day. If the market opens inside yesterday's range, I will look to fade the edges of the range. If we somehow open out of the range, I will go with the breakout, but be cautious.
Quote of the day: 'Your personal growth always lies on the other side of your discomfort.'
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