Chart from 4 days ago. Clearly broke down and tagged the 61.8. A little more room down in the short term. We saw $40M in put premium Friday, which is a lot. Expecting weakness into tomorrow, then a bounce.
I believe it's time we get long here. Long dated calls targeting the 71.10 area
I believe we've started phase B in distribution. Looking for SOW this week, then huge bounce to push through previous resistance.
Mirrored Oct low to ATH's left to right then flipped.
ES looks like UTAD complete on weekly. No supply left and market moves up on low vol. Largest volume days occur during selling. Momentum indicators putting in lower highs and rolling over. CMF declining, which reinforces distribution. Short interest at 36% most likely indicates big boys are set. I believe the August lows are the min target and we're firmly in a...
What if we broke the trade range below as a set up for UTAD. Bounce at CMF levels like this and new 52 week highs and lows are ripe for bounce. My bearish posture is leaning more bullish or this is a cluster F
Interesting here. Looking at weekly, macd rolling over. I can see sow before UTAD to create the apex with support found a the 61.8. Tough, that could be UTAD with LPSY set for FTI or Sow about tag UTAD. CMF virtually flat. My bias has a hard time being long this market. Short term, can it rip to new highs? Yes, possible, I would be waiting there short.
Narrowing trading range and declining tops at previous resistance doesn't look favorable. Potentially, a break out tomorrow with VSBD#1 as it stands.
ES in uptrend but has not taken out last week's high and on low vol. Confluence in fibs from ATH's to recent low and descending TL intact. Looking for a break above the cloud. VSS still intact, but PAR SAR buy still viable. A clean break above 2057 would trigger me to close March short position.
Resistance and lower high.
STO reaching oversold. Money flow out and macd heading lower