Happy FOMC day! Strong wave down on Tuesday looks like it made a bottom late afternoon yesterday. If we take out that low, I don't think it happens until after FOMC. In fact, I think we trend higher before we go lower. This bear zone is my magnet. Would love to sell it if we get there.
Dealing with the same price zones as yesterday since there weren't any new wave extensions. Bear zone already provided a nice short overnight which makes me hesitant to sell the area again for a 3rd time but we'll see how things look if/when it gets there again. Considering CL's sell off and yesterday's and today's shrug off by ES makes me think either ES is a...
Big data week w/ FOMC Wed and Unemployment Fri. I don't expect a big move until Wed so I expect range-bound trade until then. I wouldn't be surprised if we sit between 2135ish-2115ish for the next 48 hrs. Happy Halloween!
2108 is the level I'm eyeing...not playing long until then..also not playing short unless we retrace up to 2128 area.
Strong bounce off 2116 and heading straight to Ditka Zone. Was long, but exited because I wasn't long from the ideal level so took profit but if I was long from the low I'd hold until Ditka. Will likely take short position in Ditka.
ES finds itself in a strong support area that has provided great buy opportunities numerous times now. Will it prevail again? Might be worth a shot. If the level holds AGAIN, I can see prices trend higher toward the Walter Payton Zone which I think will be an amazing short level. I think continued sideways trade until the US election so playing the range game is...
Old Bear zone taken out...looking to play long side now from this Bull Zone, perhaps.
We've seen a bounce off the 2125 area essentially 6 times now. The question of the day is if it will hold AGAIN if we get that low. Might be worth taking a shot. To the upside, 2138-2140 will still offer resistance...at least initially. Unbiased at the moment but we'll see which direction CL drifts us.
Adding a minor bull zone that might provide good profit taking spot if short. Just looking at it intraday...I most likely would not take long position there. But we'll see how things look when/if we get there.
Looking for a bounce of some sort from this bull zone.
These slow-grind, low volume, rallies are the worst (for day scalp and swing traders). Monday was a dud and hoping for some action today. The thing with these set ups is that what goes up, must come down, but you don't want to be first. I instinctively want to sell, but will be patient as the current up wave is still forming. I'll be keeping an eye on the...
Adding a possible retrace/bear zone that could take us to 2136 after getting hit.
Friday's rally came off of a significant support zone. So significant that we're 10.00 ticks higher to start the week. I wouldn't argue w/ the notion that bias is to the upside, but I'm not into chasing. Someone is holding prices up right now, not sure for how long and to where they will race it, but once the hold ends and we sell off, I'll be looking to buy. As...