Summary
· The Index is trading in a 2,040-2,119 range
· While this range persist it is hard to determine the direction of the break.
· Statistic wise, nearly 75% of those consolidation patterns end with a breakout in the direction of the previous trend but given the fact that a similar pattern was established on the chart in late 2014 (which ended with an upside break) the odds of an upside break again are relative lower
· All in one it would probably be best to play the range until we break the range
Strategy: Long from 2,075 closed at 2,103 for 1.34% gain, Go Short at mkt price, target 2,040 with a stop on a close above 2,020
Daily chart
2015 TECH TRADES
