7644 EXPLOSIVE BREAK!
ANNUAL EXPANSION!
Good evening!
The time that we were all awaiting finally arrived; annual expansion breaks! I’ve said it prior and I’ll say it again, the market may have delayed due to the huge commitment of clearing 7644, as it knows triggering this area can allow for massive expansions. This implied our annual range breaks of 1384/1398 points. That being said, committing to clearing here meant that the market has to brace itself for a massive move and that is exactly what panned out.
The path to resistance remained the same:
Sustain
7605 → 7608 → 7611 → 7614
Base and Clear
7621 → 7624 → 7628
Major Objective
7630 → 7632
Final Leg Before Major Expansion
7638→ 7644 → 7647 → 7649
This played out quite well, after a weekly gap open above 7550 and a closing point at 7631-7632 which was a major pivot point. This allowed the index to not only clear 7644 but fully extend to 7688-7700-7711-7722 and even as far as clearing to 7755-7788 in the same day, which I discussed in real time on Tuesday. These were very calculated points and also attributed to a core to core move.
But we didn’t quite stop there, the market fully pushed to 7800-7805-7820, fully committing to our annual ranges which we’ve discussed several times previously. These are accounted for off our annual lows and our calculated core 6371-6378/6421-6428 ranges.
REACP FROM PRIOR WEEK:
🟢 BULLISH CONTINUATION - PATH TO 7800
Condition:
Hold 7611-76150 (ABOVE 7620 WOULD BE BEST CASE)
Build acceptance above 7621-7628-7632)
Direct Path:
7632 Retest → 7638-7644-7648 Annual ranges
Break = Odds for 7655-7658-7661-7664 and potentially core areas → expansion to 7800
If we can successfully clear 7621-7624-7628-7632 cleanly:
We open mass expansion conditions and increase odds for annual range retests (7671-7678-7681+)
Clearing annual ranges which are aligned to the channel areas using my 100 point theory, gives odds of 7655-7658 retests and core breaks of 7671-7671-7675-7678
Slight odds for 7688 zone retest which is currently aligned to ATHs with contract rollover factored in (pushing 7688-7699 is what can allow for 7701-7708-7714-7718-7721 breaks)