BengalTigger

ES; Ticket to the Moon! Update

CME_MINI:ES1!   S&P 500 E-mini Futures
I expected the O/N low to be broken on a retest today. A bit hopeful. As I had forgotten that today was a holiday and that it would be light. For now, the 57 area, is acting as symm support. Waiting to see if they fill the gap at 68 and continue higher or come down to the 46, 36 and 26 areas, where there should be some greater support. 26 acted as resistance on the way up and is also the top of the value area on the monthly composite.. We are likely coming closer to resistance above. I have 2690, 2709 and 2732 (VPOC 3 Month Comp). The down trend line from 2947 is roughly in the 2704 area, and also coincides with a 618 retracement from a previous swing high. Skilled practitioners can take advantage of the two way trade that is likely to ensue. Below 2580, I would be concerned. 2580 roughly corresponds to the bottom of the value area of the 3 month comp and VPOC on the monthly.


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