will open on a gap up to the very top of the current multi days bigger range. The top of this range I my mind is the boundary to ES ATH so will watch that around 3286. We also have a smaller time frame lower range that has support at 3270 area this I also will be watching and will target 3250 if we can get back into this lower range. I however have my doubts we...
overnight is short and looks to me as that will continue if we drop below 3186. So my first idea is to have a short off of the opening bounce into the 3202 to 3210 area. An impulsive move over 3210 will get me long on pull backs to the 3224 target. third idea is a open drop and then look for up move to short down to down side target of 3175 and big drop zone of 3139
We keep balancing this time with acceptance in the top end of the multi day range. so back and forth in the range until we break above 3172, then look for 3184, and any time spent below 3152 then i target 3135, Right now would think the upside is most likely
Still in the pension funds re balancing until end of month so worth watching this selling pressure.
The red zone is the acceptance of prior lower distribution and maybe the days trading range. Fast breaks that pop out of the Red zone and get back into range will be seen by me as a fail move and could be good range action. Today looking range bound until a clear...
After yesterday move that looks like longs getting out, we found acceptance to a bit lower prices pushing the bottom of the range lower or maybe finding a new out of range lower levels. It is the first interesting move we have had in some time. Over night is balance so have no opening inventory adjustment so will be watching the 3020 -3045 range for clue for next...
Today in ES we are still playing inside a multi day range, so a break of this range is very expected some time soon, the confirmation of the break being long for me is in the 3146 area so will be watching for a gap and explode move but also will be looking for a pull back to 3127 area or full gap close for a long entry.
Today in the overnight provided very little balance with all the action being short. this can either open down and rip, or try and balance some of the shorts with a opening bounce that turns close to teh top red line. For me a good shorting spot. above that red line can resolve into a predominate long idea. We will see after open how this plays out. I can never...
Notice today I am on the ES September chart and that is what i will be quoting now.
range 3037-3064 This is the range to help with forward direction. Keeping in mind often after a big moving day we are followed with a consolidation day to digest what happened. Levels: 2943, 2955, 2983, 3000, 3023, 3037, 3064, 3150, 3174. Yesterday had strong selling and and...
