Watching this resistance level to short the S&P Emini's
Hello everyone! With the market making all time highs, I believe it's time to take a step back and view where the market may go. Right now, the S&P E-mini futures are breaking the all time highs with greater volume from when they were set back in May of 2015. With that in mind, I believe that if the /ES can hold that as support, we're heading higher. If that...
The Nasdaq has worked it's way through resistance and is now inside the chop zone. It may bounce around in here as it waits on the Russell to catch up.
0. Review Called for a drop overnight and it did retrace to 2012.5ES. But it didn't touch higher enough to 2040, due to lack of momentum, which usually happens before holidays. My order overnight got filled @ 2015 and exited morning @2020.5 . Didn't catch the afternoon rally because of my wrong prediction of pump and dump. Actually this dump and rally all day...
Bulls Must Hold support to have any chance at a further run. We are on the sidelines waiting for price to give us a clue. This week should be volatile week.
Shorter Time Frame - up into .382: www.facebook.com
At local support... One more break, and we going to test low www.facebook.com
Minor resistance held and now the August lows must hold otherwise we will have a date with the 3700 area. We are shorting all pops until last weeks highs get taken out. REMEMBER NON TRIGGER - NO TRADE!
If the Russell can take out the most recent lows then our long term target comes into play. Study the pattern!
Watch a very important Level (1894) www.facebook.com
Expecting ES to continue declining for next couple of days.
Bulls defended the 4125 level and thanks to the Bank of Japan (BOJ) got a boost on Friday. We are now getting close to Minor Resistance and we are showing that we are oversold (short term). We will nibble on the short side if we can get a trigger in the resistance area. We expect to so this are Tuesday or Wednesday. Remember, NO TRIGGER, NO TRADE!
So, 1st Fib. level has been broken. Target is 50% now
Bulls defended our level and are trying to claw their way back. We are still favoring the downside and will seek triggers around the Minor Resistance area. Be patient on Monday. No Trigger, No Trade!
A very bullish bounce today in the indexes...you had to be quick to catch the move. We will watch the next couple of days to see if this is small bounce or a true reversal. Keep on your watch list and watch the outline levels.
The head and shoulders pattern is working well on the Russell. We are half way to the measured move objective. If you missed this trade then please revisit our past Russell posts and watch how the pattern played out. Patterns repeat and there will be many more.