ES: Last one

I figured I'd do one more because the last one worked out super well.

If you like these types of posts, let me know and I can continue them.


Remember jobless claims tomorrow at 0830 NY time.

Overall, probs support continuation to the downside on ES1!, IWM and SPY. SPY is favouring a move to 389. but with the catalyst you know we are going to take it out before we even open. From there the next targets for SPY are 388 then 386.

Ranges in the boxes. Because we have a catalyst, we could see another day where we exceed the range in either direction.

99% target is 3954 which you know I am longing to as we speak.

Safe trades everyone!

EDIT:

Forgot to include all targets for SPY for tomorrow.

Bull:

1. 394.83
2. 396.27
3. 397.71

Bear
1. 389.84 (highest probability)
2. 388.12
3. 386.40

And for IWM:

Bull:
1. 185.34
2. 186.39
3. 187.44

Bear:
1. 183.03
2. 181.83
3. 180.63

Comment:

Careful today, don't short the bottom :-).

We landed on that box, the high prob box. We completely bypassed the 99% so far. Even YM1! has bypassed its 99%.

So.... expect us to work our way back up.
We will have to see how the market reacts to jobless data. If it doesn't immediately trigger some kind of parabolic pulse up to those targets, we can expect us to grind our way back up. Ideally, jobless will put us deeper into that red box, it will make for a better long play off open :-).

Safe trades everyone!

Comment:

Yikes, I'm actually leaving this alone today.
This looks pretty bad. Bearish but with conflicting current bullish targets.

Best of luck to anyone attempting it today! Safe trades!