Princetontrader Futures Trading Education S&P Futures Webcast January 26, 2017
The Bulls followed through on the move out of the compression range and have now places the daily chart into a upper Bollinger Band ride. The Bulls engaged the upper band and avoided the potential of a “headfake” day that sees us fall back into the range. The existence of an upper band ride puts us into buy dips mode. There is a decent amount of expansion coiled in these compressed bands. Band rides tend to go farther and longer than most traders give them credit for and fighting them can be a very painful experience. Absent news, the bears still get no serious longer term consideration until we close back below 2267.50.