If level continues to hold then I expect a downside break through the holding zone where 2192 will be my next target. A 3rd visit to the minor bear zone might bring trouble to bears.
The break in the upward channel during Monday's price action makes me less bullish. Enough to where I'm willing to play either side with the same aggressiveness. If this minor bear zone holds I'll expect to see the battle for 2200 begin. So far it's served a solid support zone. Crude news will keep things volatile.
I'm looking to only play Crude from the short side today. I'll be looking for decent rallies to sell. Right now my eyes are on 47.00-47.50. I have zero confidence on trading the long side right now (which means it'll prob rally :) )
This "sell-off" since Sunday night's opening should have really taken place last Fri w/ Crude's dump. I still stink there's room to trade higher. The shorts haven't felt the pain yet. My plan today is to take measured shots on sell offs. Currently long from 2201. This "Bull Zone" could potentially be the buy of the day. If fate's plan is different, I'll be aiming...
A low volume day ahead but in case there are some moves, theses are the levels I'm playing.
My plan everyday for the week is the same story: be a dip buyer. Playing from the long side feels like a crowded trade, but it's still the smart trade IMO. I'm currently short from the "holding pattern" w/ a tight stop but I'll be looking to cover and reversing somewhere lower. There is decent data coming out today so despite it being Turkey Day Eve, we still...
Welcome to 2200, ESZ! Amazing how price just stopped at the Bear Zone. I remain bullish on the week as I don't think the current up wave will be complete until we hit the upper trendline of the channel, but I do see prices trading lower for a scalp from this area. Yesterday was a "trend day", today will not be, so I expect more volatility today but still aiming to...
TGIM...Holiday week! Despite the lack of trading enthusiasm we can still see decent moves during these times. History tells us that the Market usually goes UP during Thanksgiving week so I'll def be a dip buyer today as my magic 8-ball shows me new all time highs in the very near future. 2200 is our magnet as the upper end of the range boundary is the target.
Bull Zone gave a great swing trade entry. Played scalps from the short side since but think potential for another long swing setup lies within the zone. If successful, I think will then take us to 2200.
TGIF. I still think being a dip buyer is the way to be for ES as I still see room to the upside for new All time highs. My upside target is 2201 for the current upwave. $ from Bonds has been coming into equities. Seems this will continue, we'll see for how long.
Much data and Fed speak today should hopefully give us some movement. I'll be willing to scalp from either direction if the proper set up is there but I still favor higher prices. 2202 is my upside target (not necessarily today) as long as 2168.75 isn't taken out. Same Bull Zone as yesterday, which is still valid and still hasn't been officially tested.
Nice breakout of the pennant formation to the upside yesterday afternoon as new highs were made. Trend is still up so being a dip buyer is my plan. The Bull zone, if we dip that low, looks attractive for a long swing set up as it also coincides with the upper channel pennant trend line we broke through yesterday. Will keep an eye on Crude as guidance for the...
Prices are currently within a pennant which is generally a continuation pattern. I expect prices to eventually break out to the upside and will be looking to play from the long side. The CL rally should also give ES some inspiration.
TGIM...A clean breakout from the descending channel Fri afternoon leads to a higher gap open Sunday night. The Bullishness continues into the morning. Bear Zone could provide a nice short, but even better serve as an upside target for a Long scalp exit. I'll be looking for trades in both directions but biased to trade Long.
I'm bearish unless upper range pink line is broken. If so then looking at 2180 upside target today. CL might provide some insight. Support level to watch is 2150.
Happy Election Week! Hopefully we get some wicked swings. Unexpected, large gap higher Sun night I guess is a good start? The initial move from the open was lower but the push was defended. Where prices stand at the moment, I don't want to touch. I would like to see a filled gap, but only willing to play that route from a higher level. If I was in front of my...
TGIF! All eyes will be on NFP today as it will have direct impact on a possible Fed hike in Dec. I'll be flat going into the # but will be paying special attention to this Michael Jordan Bull zone. I see it as an extreme support zone. We'll see how things play out leading up to the # but I have a sense an initial sell off to that zone, followed by a rally. With...