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TradeApe
Nov 18, 2018 8:39 PM

ES punching through the ceiling? 

E-mini S&P 500 Futures (Dec 2018)CME

Description

ES closed the week close to 2750, key resistance that held all week after Monday's drop.

I will be looking for short entries close to VAH and 2750ish going into next week. A strong break of Friday's +3 VWAP STDEV (2751) would tempt me into longs, but I probably wouldn't feel great about it at that price until we shoot past 2755...would need quite a bit of momentum for that.

I would prefer longs from the 2725-30 zone, between Friday's VAL and the closing VWAP.

Downside levels I'm watching: 2710, 2675, 2655
Upside levels I'm watching: 2780-88, 2800

Long story short, quite a bullish close to the week. I would like to get into longs at a better price though, at least somewhere at or below 2730ish or Friday's VAL. The closer to 2750 I can get into shorts, the better.
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