With todays move and how futures is behaving resting at 4031, looks like we have a potential gap up tomorrow. Will have a clearer idea however, if we break over wave 4's 401.50 level then we are confirmed that wave 5 truncated short and we are building wave A of wave 2/B. The current structure looks like impulsive and i can count 5 waves up so we can anticipate a zig-zag formation to play out on the upside. Personal target is 414 though wave 2 rule is that it cannot break the origin of wave 1 at 430 range.
Option flow is bullish going into tomorrow 403's sweeps came in. Next week option flow is bearish. So next week we could be building that wave B. i will be day trading and looking for a decent pullback for a long towards 414.
Key level's im watching:
UP: 401.54, 403, 404/405 and 406
Down: if gap up (402, 400, 398, 397, 395)
Good Luck Traders!!
Option flow is bullish going into tomorrow 403's sweeps came in. Next week option flow is bearish. So next week we could be building that wave B. i will be day trading and looking for a decent pullback for a long towards 414.
Key level's im watching:
UP: 401.54, 403, 404/405 and 406
Down: if gap up (402, 400, 398, 397, 395)
Good Luck Traders!!