a daily price action after hour update - s&p500 e-mini futures
not breaking down means acceptance of higher prices
Good evening and i hope you are well.
Markets can’t print lower lows and i will stick to my bullish thesis for another leg upwards until bears do. Another day at the highs raises the odds for the bulls, not bears.
The rally looks bigger in this chart than it is, we made 26 points from the low, so don’t get too excited. I highly doubt we can break above the range that easily and expect another pullback before more up, but i do think we will print 5000 in the next 1-2 weeks. Today’s choppy price action on lower tf was a good day to look more often on higher timeframes to see the bigger picture.
short term: sideways to up
medium-long term: down
trade of the day: long the midday low just barely above yesterdays low to make 25 points. could have been that easy but the lower tf price action was nasty
Good evening and i hope you are well.
Markets can’t print lower lows and i will stick to my bullish thesis for another leg upwards until bears do. Another day at the highs raises the odds for the bulls, not bears.
The rally looks bigger in this chart than it is, we made 26 points from the low, so don’t get too excited. I highly doubt we can break above the range that easily and expect another pullback before more up, but i do think we will print 5000 in the next 1-2 weeks. Today’s choppy price action on lower tf was a good day to look more often on higher timeframes to see the bigger picture.
short term: sideways to up
medium-long term: down
trade of the day: long the midday low just barely above yesterdays low to make 25 points. could have been that easy but the lower tf price action was nasty