20 Points Available Between The Zones
Weekly Trading Zones Offer 4 Trades | 20 S&P Points Available
Price action was constrained nicely between the 1548/49 Weekly Zone on the upside and the 1542/1543 Zone on the downside. In a recent post Live Trading Room - Best Week Ever! we discussed what an important role our Weekly Trading Zones play in our overall trade strategy.
On the charts below you will see 4 well defined legs, each with 5 points of potential from Zone to Zone. Picture if you will, a caged animal pacing back and forth waiting for an opportunity to break and run. You will hear this referred to as "consolidation" or "coiling", others will call it a range, I suppose everyone can be right on this one.
The case for the Bull Run which we discussed in The Biggest Triple Top In Trading History gained even more credibility in the eyes of some today as perma-bear Richard Russell issued a "Buy the Dow" recommendation to his subscribers. Just when we thought it couldn't get any stranger... it did.