duckwade

Where is the santa rally?

duckwade Updated   
CME_MINI:ES1!   S&P 500 E-mini Futures
Comment:
holding 4560 and reaching above overnight high would be bullish and shift odds to low is in and going for 4700 next, ideally still take more time today/tomorrow to print a higher low for a more solid base.
Comment:
RTY leading up is always bullish, but RTY is more volatile and until it can set up a sustained trend, it would be hard to trust its movement, minimally it needs a sustained break above 2190, but above 2225 (premarket high of last Thursday) would give more confidence on trend shift.
Comment:
If ES cannot turn down before close, then watch for next major resistance around 4660, a pullback from there to 4600 makes sense, unlikely to make a sustained break below 4600 tomorrow as there is huge open interest of ES 4600 puts tomorrow.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.