oil : looks to be getting some relief from the restriction of retail trading on the front contracts and the ETF's pushing there buying further out in the cycle but the condition that caused negative prices has not been resolved so remain leaning on the short side, looking long term for the major turn point.
I find it interesting that I got many comments on my call to remain short oil. I would like to expand on this concept. First thing to point out is no one asked me how I plan to short or, and what part of the oil complex i am shorting, and additionally is there anything in the sector I am long. Second part is the price is low and looks attractive to be long, but...
9:00 pre open post ES is trading inside yesterday that is inside the day before so a compression pressure is being applied. This pressure will resolve one way or the other and I will be trading the water sloshing back and forth until that break out happens. Watch 2808 on top and 2766 on bottom. above first target will be 2826, and below target will be 2740. This...
Es. looking at 2747 to 2780 as the initial balancing zone this being the top part of a double distribution in the over night session. A maintained drop into lower distribution should bring us the 2718 area target. Additionally the top side retest of 2800 is very possible also on any up pressure. and then above that level 2830-35 zone. A plan is a open rejection...
watching 2 important support areas, live room after open will post my actionable game plan
Oil is a longer term short and even at these levels is not a long yet. Day trading is hard in oil but has some big moves, I would remain leaning short even in day trades.
Today we roll to June contract and that is a big jump, will expect oil to migrate to the 20 on the front again. Today like yesterday will have lots of rolling volume so will be a choppy trade sitting out oil today other than short time spreads all ready in play.
looking like after red zone break we now will move to 2872 for full retrace of the drop. join our private group to get premarket trade plans and market incite.
9:00 notes for today's trading This option expiry and good chance we do nothing much today at all. With all efforts to hold the market at these levels for the day. the important boundaries are 2850 and 2885 Other than this the action is very bullish, but in that bullishness we can have retraces. and until we get back into prior lower consolidation I lean long,...
Please keep these 2 location in mind 2857 and 2710 as important locations to the bigger picture direction. Above is SPX500 numbers take about 5 points off for ES numbers Day trade updates will follow up about noon, giving my private member first look at this info.
Today will update after the inventory report with day trading ideas and also my concept for oil going into the next few months
today looks like Es heading for 2632 and or 2622 (ES) as we break yesterdays lower red zone support. will be hard to produce the plan a and b with this solid down move. but a opening bounce then further drop, and or a open down rip are the two idea i am looking at. Live room will get updates as I see them
early Morning post: Today The market over night is long and coming into R so first thought is a move back down to find new buyers and then test R again or break out to posted targets. In the event plan b happens and that is a down move that keeps going there is lots of support areas so this down move could happen fast of become very choppy. The volume on down...
Today ES looks to be bouncing off the overnight lower values and balancing out the overnight session. The balance zone is very large 2700 to 2820 so not a lot of value to this range until one side or the other is violated. What does look like will happen is making an assumption that traders keep getting short this market and if so we will have a sharp move higher...
Today with the FEd intervention right at job numbers tossed planning a loop, how ever I did get a mention out to watch the 2785 and 2800 areas for the lift to stop and we then could have a decent size drop. as of this typing still looking for the bigger drop, but after that think we just chop for the rest of the day. Caveat this is a long weekend and might cause...
Had a good day today in the room, not as good as yesterday but these two trades presented very nice, and look very good on a 5 minute chart.
posted in my private room this info for ES trading Es today the important chop zone is 2550 - 2595 I think if we break above the target is 2620, and a break below is 2497, ( remember ES numbers) there is lots of liqiudity down around 2558- 2562 so expect a bounce in this area. The top side of this range is well accepted and does not look like it wants any type...
I am thinking about not putting out morning ideas anymore. So if I do not please be well and take care