The PB ADR Narrow Range scan brought this opportunity to my eye. BRCD has traded just 51% (.39) of its average 4-day range of .76, which implies significant expansion could be ahead. Price is sitting on support at 10.80. Bulls want to defend 10.80 for a return to 11.90 and 12.90. Failure to hold 10.80 opens up a move into 8.90 – 9.00.
ES bears are currently defending the 2119 key level for a return to the previous week’s close price of 2097.75. Bulls want to defend support at 2111 for a move into 2125 and 2130.
The NQ remains within the boundaries of the recent 3-week trading range, which spans from 4455 to 4555. Major expansion of 200 to 220 points is forecasted once a breakout from this range occurs. Failure to hold above 4455 suggests a return to value at 4428, with a shot to see 4400.
Gold bears continue to defend value at 1204.10, which implies further downside price discovery into 1178 and 1170. Bulls will look to defend a move into 1178 for a return to 1204.10.
ES bulls are looking to defend the 2115 key level for a shot at 2123.75 and 2128.25. Bears are currently keeping 5-day VPOC and yCL offered between 2120.50 and 2121 for a shot at running stops through 2115 and into 2108.75 and 2102.
