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Price Action projection on the S&P500 emini futures Feb 4, 2015 to Feb 6, 2015
This is where the fun starts. The Trading set up for tomorrow that we are looking for is a bounce equivalent to 50% of the previous days price action with a maximum of 23 points retraced from yesterdays close. From here we are looking for a buyers market in control with a new high coming. Support on 2032 then a continuation of the trend. Buy at 2032 watch for the 10 -20 point run and then back down 10.
The expected range is 16 for a consolidated range day, 23 points for a mid range trade day and 41 points for a volatile range day. There is a chance that we could put in a doji as the market consolidates more before a break of the channel. This could be 2 or three days.
Also expecting a small range day on oil as we had a volatile day setting new swing highs and giving some relief to the Canadian Dollar. Joel Wissing Money Maker Edge™
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