Today looks like we are going to play around inside the over night zone and could be a very choppy day. Any substantial break of the red zone will be a strong indicator of what side of the market wants to take control. So looking for a back and forth trade until we clear this zone. Bigger idea this is a balance at the bottom of a big move and could be telling...
today will be watching the red zone and the first blue target zones, I feel no clear direction until the first blue zone is broken. I will be looking at inside trading as long as this wide area is in tact.
Now that is a good sized down move that took out support and coming into more support. so further down is very possible, and on bounces the short trade is where I will be leaning the hardest. That being said do watch for strong reactive buying if buyers are found. Big one sided move the red zone has less value and will put more value in how the action plays out,...
we have had a good sized move to the bottom of the big multi day range and will test that range to see if a move to teh lower targets is going to happen. I am thinking it will. Watch red zone and impulsive action and trade accordingly.
The overnight sessions has been moving down and may need a bit of an upward resolution before finding it way further down. However in this crazy market look for strong action bast red top for a up move. This is a very large many day range and could play around anywhere in this range. watch for the big action then follow along but do not let bias keep you in a...
Oil has been moving down back into the top of the prior multi day range and this red bottom is an important level to watch to know if the buyers step in or just let it go back into that prior consolidation. For today at least oil is giving a look that the up move is tired and does not want to push much higher. So I will be looking for smaller choppier trades or a...
2202020 ES found a over night new high and is balancing in the top part of the big range. I will be watching for buyers to step in around 3378 but could let it drop as far as 3370 and still be top of range. Also thinking sellers will step in around the 3389 area and if above should see the over night high tested. Do not look for big moves during the day session...
Oil has found it way for now and that is up, so looking for bottom of red zone test below and bounce or a red zone top retest up move. I Flip short if we move below red zone and stay below.
bullish over night move inside a very big balancing zone so a break of red zone should take us to the outside of the balance zone to test the buyers and sellers in them areas. so above that is 3390 area and below is 3355 area. Until this area is cleared looks to be a back and forth of this big zone using smaller daily zones inside that range. I think we could...
watch today my es charts are on April and usoil on TV does not look to be on the same expiry period. Yesterday has a fantastic accumulation and unless we can move back into the prior distribution oil looks like it wants to go higher. The early session high (red top) will be the clue as to if this happens today.. Move down I think would get back into some choppy stuff.
Oil has a big red zone with close targets so a trade taken inside the red zone and see if it can break out of the zone for a bit better profit will be my primary focus today. This market is still in a big consolidation and has failed to keep moving higher so my bigger picture is still to see further weakness.
overnight is very long and testing higher with nice levels of acceptance at the higher prices. also the bigger names that reported last night showed strong earnings so looks like market wants higher one more day. will be watching red zone close and reacting early to any big push after open. I expect, like all the days this week, the market will have a early push...
Today we test the top side of the big range mentioned yesterday, so we are at a very important level, a level that will help show the going forward path. A solid rejections probably takes us down to range bottom, not saying in one day. And now a break above with buying will have a move to 53 and then we see if consolidates or keeps going.
Looking for ES to remain a back and forth trade until we can get a break out of this zone. there are many possible targets below if that side ever kicks in and lots of blue sky above, but both of these will take commitment after this range consolidation break. Be careful of a small break that does not find commitment and just returns right back into the same...
we are in a big range and will widen the red zone to the outside of this consolidation and until we move out of this range will look for small trends inside the big range, and no clear direction until this clears this zone. That said the down side looks the most likely in the big picture.
spx is about 1 point higher than ES so very close to same numbers the action over night is all long and finding a balance at the top of the over night action so my primary thought is long, however each day has been sold off till late in the day when the buyers step back in so be very careful. I will look for a early break out and then be prepared for the follow...
oil is off to a bullish start heading for the top of the big range I have mentioned a few times. The first targets are close to the current action to see if oil can push past where some selling is likely to happen. This is either a look for buyers and in that cause we find them or we do not. If they are found a good sized up move could be coming and top of...
While the flag I mentioned for a few days broke out yesterday and is now balancing a consolidation of acceptance and is giving the impression the market still desires higher prices. I would welcome a test to 3340 for this spot to get long but that deep of a pull back may not happen. so second plan is to watch the break above the overnight high for a retest like...