Market Monday Weekly Outlook:
Looking at this daily ES chart it appears that the ES could pull back in the short term. I would expect to see the 1732 level by the end of today or tomorrow. I would anticipate a small correction, however, even with a pull back, I wouldn't be shorting this boat. Overall the ES appears to be holding its trend long. This week I will be waiting for the pull back to get in to some long options trades that expire next week. I like the idea of waiting for this little pull back, getting a deal then starting the long run.
Looking at this daily ES chart it appears that the ES could pull back in the short term. I would expect to see the 1732 level by the end of today or tomorrow. I would anticipate a small correction, however, even with a pull back, I wouldn't be shorting this boat. Overall the ES appears to be holding its trend long. This week I will be waiting for the pull back to get in to some long options trades that expire next week. I like the idea of waiting for this little pull back, getting a deal then starting the long run.