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Once the monthly timeframe ended the timeframe dynamics shift

 and we have new levels, with any extended up move sending 

the market upward and higher, this will occur because 

future contracts are running at a premium to the SPOT contracts, so 

the closer the market comes to expiry the higher the market will

 be. (4th September)

I also like trends to develop from lower weekly opens, 

not higher weekly opens as is the case this week, ….as the old 

adage goes; buy low sell high. (September 6)

Last weeks trading on Global markets is a perfect example of

markets rising into Expiry as future contracts are running at

a premium, and the weekly timeframe starting from a lower open

and moving upwards into a higher weekly close.

For US markets, it was a case of waiting for the Hook and move

 back inside the weekly 50% levels and continue upward back in

 the highs once again.

I’d be happy for markets to continue and rotate for a number of

 weeks after expiry, because if markets continue to move

upwards into the end of the trading year without more down

'weeks', then volatility with begin to dry up.

Up rising weekly trends and trading ranges drop, and we move

back into 4 days of small range days with 1 large trending-day

that keeps the Daily ATR in balance.

Frank Dilernia