The over night session is in a nice balance near the highs of yesterday. And the over night up move is worked its self off, so expecting a big balance zone as the market tries to decide what to do next, or a strong up move after the market digests the last days action.
Oil yesterday made a clear break of the red support and ran hard as mentioned could happen. It is now in a new lower distribution and is saying further down as long as we do not go back above red zone top. This said does not mean a balance zone in this area does not form so will be watching for shorts around red zone top and then looking to see if oil is going to...
Over night action is all bullish and could be pointing to more up as the move. This givews a 10 point gap so will watch the gap and 1/2 the gap for possible bounce points for the long trade. Also break of the Red zone and then a retest either up or down would be plan B
Oil is still in this tight range and looking for a break out, play safe until this break occurs. Today will be looking at a 2 step red zone the inside red zone is only for inside scalp trades as I wait for the bigger red zone to break, and after the big one breaks will be when I form a directional leaning.
Over night is a new ATH, so will look for a pull back to 3274 and see if we get a bounce to retest teh high or go a bit further. Unlike yesterday i now have higher targets calculated. Any move back into yesterdays trading range will have to see if the bottom of the range holds the market up and if not a strong drop could occur. So this gives us a plan a, b, and...
Everything that needs to be said about oil was stated yesterday, nothing has changed, Link below
ES should follow yesterday with a strong up move after a nice little pull back to the 3264 area or just stay choppy for the day in the RED zone range. If ES breaks above the Red zone I have no current target areas, this is just pure air and one may need to use a Fib extension or something or ATR to know when to look at taking profits. A break below will take us...
Today oil is in a small range balancing after a large down move. Interesting spot. also all the support and resistance seems to be lining up with the round number option strikes.So will be trading inside the red zone until a solid break out and will go directional to the side of the Red zone break.
After a massive down move we are right back into prior range and looking to complete the balancing process and until this big range breaks in a solid fashion look for a back and forth trade. however if the break happens a good size move could be happening. Will watch market reaction close for clues to the type of action. Call me crazy, but leaning to the long...
Today looks like a rip to the down side, just watch the levels and expect oil to look for a spot to balance
ES is in a over night balance and this will be the chop trade till the red zone breaks. will be watching for impulsive moves and preferably a breaking one.
Oil had a strong pop and now is moved back into a prior range and I feel will need to work this area to find the buyers and seller and who is more determined. watch Red zone for this answer and small trades as long as inside the red balancing zone.
Today I feel is going to be an teaching day, meaning it is going to be providing information that will help me learn its futures moves, baring any news. We have a short term red zone and a larger picture red zone is inside a distribution that is inside a prior distribution but the big distribution is not balanced so leaves me with a poor going forward plan. So my...
The short term NQ, qqq direction for me will be supported by the 8690 level, will have my eyes on this due to NQ being the most bullish as of late of the major indices.
Oil has had a very big up move and looks like it could be attempting to find a big balance range, this is why such a big Red zone today. This give lots of inside red zone trades and without any news could be the area we trade in for some time. Now a break of this Red zone could be providing lots on information towards oils next moves so will be watching with...
After a big overnight down move the market is trying to make a balance area. Will be watching for a opening impulse move . My thinking is a move back up to yesterdays trading range, but mind is open for a drop also.
There we got our big push that had to happen at some point now we have basically two red zones with good possible movement inside the bigger red zone for decent trades. 1) 64.10 - 32.73 2)63.67 - 63.21 there are some mathematical upper targets and then some prior down side targets, will watch so see if we are going back to yesterday prior range or pushing new...
Back into bullish mode and move towards the overnight all time high and further. looking for the ATH to break then consolidate to provide a good entry spot. not expected but always can happen is a retest downward back into the last week range.