Moved back into big multi day distribution so watch the top of that 9 day range. and bottom of prior 0 day range as possible bounce point. if move below my bull case starts to fade.
Showing some pretty strong possible support zones. so time to test if the market is really weak or just a back test.
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 is a balanced range inside a range and will remain choppy until the top or bottom of the red zone breaks. I will be trading that range but looking for impulsive breaks to provide clue that the range is no longer valid. There are lots of points in thsi range so a solid chop can still be profitable, just a bit harder to hang onto.
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...
Overnight a big move down and a very big red zone range, we could have a gap and run, or a bounce will watch open to see how it opens, then trade impulsive retraces. this is futures roll over so volume will be moving forward and can be a hard time to trade.
Es/ the upper end of the opening range is 3211 with the first lower level at 3196, but does not get bearish until first lower target is taken out at 2180. below that I have a few targets 3160, 3127, 3112, Even if all these targets are hit the big picture will still remain bullish. If we start running to higher levels have 3288 as up side target. So the opening...
ES I am not sure how many boxes I need to check to call a down move but lets say it is 6 boxes, yesterday checked one of them. This said the over night gives me 1/2 more boxes making me a very cautious trader looking for a bit of a down move. Watching 3099 and 3115 as my chop zone and a break above removes the box check marks. Most of the over night inventory is...
Today watch the red zone bottom to see if bears have any life at all, this could be a good bounce point. also a hard up bounce that rejects could also be a sign that short may have a hope today. The market has been very lazy/choppy during the day and is moving all at night so play very safe.
over night we had a selling distribution and a buying distribution leaving thing pretty even between the two. Looking at 3058 as the cross over between the two distros. Over all outlook is market remains bullish and so far is not putting in any sign of bears being present other than to give the market some squeezing lifts. So will watch for reason to get long as...
We remain in a big balanced area inside a bigger bull move, so today expect back and forth in a hard to predict manner until the balance zone is broken. Still looking for a signal that bears have any desire to get involved but so far all they have been able to provide us is some very sharp short squeezes. Wish there was more i can say but nothing has changed in...
very balanced over night and will watch red zone for further action. There is a big pension plans re balance that will happen today so could be one more bearish day, but as we know they are just dips to buy.