The Monthly Profile provided us with a beautiful textbook Zone-Trader Philosophy setup, which developed over the course of yesterday and today's trading hours. The Bears Failed to make a bearish breakout on the monthly profile, no candle body close below the midpoint between MS1 and MS2, which generates a buy signal from Rule 8 as we expect the market to revert back to the Zone-Trader Pivot or POC and to possibly attempt to make a bullish breakout. The bulls were in control of the market on the month and they were able to maintain control as they blocked the bears from making the breakout. The fact that the bulls maintained control of the market tells us to look for a move back towards the top of the PZ which is in Orange and the price is 1506.75 and possibly higher. The ESH13 did exactly as was expected or being predicted by the Monthly Profile and the market traded back above the top of the PZ and is currently attempting to make a bullish breakout. This move was 34 pts depending on where one was to get filled on the Rule 8 buy signal.
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