Mr. B is still on vacation and flat, but we have some interesting NYMO news this morning.
We are well into a down cycle, and for the first time in a long time, NYMO has tanked into the "Oversold Zone."
A close somewhere in this neighborhood puts edge (not a guaranty) for a trip to the middle keltner band in the cards.
One can entertain possibilities beyond the middle keltner (the gap at 4228.48 looks interesting), but the oversold zone state does not offer an edge to dreamier levels (just a possibility).
This does not mean we are at a local low (could be), but a tradeable low may get set in the days ahead.
It is just time to look for cues and pay attention to setups.
As I write, the down gap at SPX 3921.05 just got closed (nice).
It is hard to think up here, but my next trade may be long. I don't know what will happen, but we shall see.
I will focus when I get back in the saddle next week.