Three day balance at all time high, also an inside day on Wednesday. Potential balance trading scenarios that could play out on Thursday, depending on where price is at open, could include:

– Remain in balance in or around the current three day balance.

– Look above the three day balance and all time high at 2593.50 and target the 2600.00 level, finding acceptance and building value at higher prices.

– Look above the balance/all time high and fail, returning back into the range, potentially targeting Wednesday’s point of control at 2589.75, the single print above the lower distribution at 2587.25, and possibly the low of the three day balance.

– Look below the three day balance and fail, return back into the range. Potential targets are the single print, point of control, prior close and the all time high.

– Accelerate/look below the three day balance and find acceptance/lower value, targeting the lower anomalies from the 11/3 profile and low of that day at 2573.50. If further liquidation occurs the lower excess from the 11/2 profile could be tested (probable higher odds of this if there is a gap open lower at the regular session open).

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