Looks like the NYMO Cycle will confirm down today with a second close below the zero line. Let's see what happens.
We have a nice stack of open gaps below for a target set.
We are making an inside day so far.
Tomorrow's triple witching day could be a decider or perhaps a trap.
Bulls look tired but BTFD is firmly engrained. So, who knows...
Over the last year, almost every NYMO up cycle resulted in a price tag of the upper keltner band, but this recent one failed to do so.
The last exception happened to be the up cycle in front of the March expiration. Following a low a few days after that expiration, the bulls asserted themselves.
Perhaps we get the same phenomenon this time around too. I don't know. Price has been comparatively anemic in the lead-up this time.
The keltner band continues to narrow, which could be setting up a big summer move.
I remain long an R2K runner position, which got a snug profit stop put on this morning.
Short setups are percolating.