Although we are a support, this does seem as a bearish break out.
I though this was going to be an small drop but the new variant news. I dont want to call this bearish speacillly since TV algos likes to counter ideas... haha conspiracy theory i like, but this clearly is in bearish momentum.
I will put place this as neutral due to conspiracy theory and that this...
this was setting up for maybe another good bull swing, but the ES was unable to break higher, and today this move prove bearish. not expecting this to be a big leg but let the chart tell us.
setting this as neutral to bearish outlook since said I dont expect a huge drop.
I haven't published much because it was clearly bullish until a few days ago. Yet, I wasn't expecting todays move, which added to morning rebound, i though it was going to be just a flat day to then see the move we all dream of happening.
sadly this already looks extended, and we might stay here for some days.
Hopefully was a great day for you.
a bunch of signals, taking out the last high makes a new higher high, bullish.
Over extended move, bearish.
and for me not a good long signal yet.
The big detail here is the momentum of the move.
ES is looking strong and if this continues up and holds, could be very bullish.
Ill just leave this as neutral.
Moves like the one today in the morning, just a huge rally is what for me makes difficult the read and the holding.
Past rebounds made me think market would rebound fast ignoring the signal. Next day was a red day for me, and turned back to shorts.
Here this can be a pivot, but holding Friday's range will just make this whipsaw within daily range.
I was looking the break out level on NQ, but shorts werent doing ok even with last weeks leve being broken on NQ. Then i look at ES and I see last weeks low is being defended there... well, then the blue line is last weeks low. Good work bulls.
Based on this, ES seems like a double bottom, but NQ lower, I guess it is flat.
to get long I would like to see a break...
I don't know if it is a good idea to post short ideas anymore. perhaps some printer algo scans short ideas to get you trapped, but this might finally give the expected discount.
A flat move is still possible.
Flat to bearish
well this push was something really unexpected, specially after the base on top.
Current move invalidated my levels, and switched to bullish on Aug 23, and made this a long set up. Hard to say on ATHs, but is what the market wants to do and we'll just profit from it.
this move today seamed more like recent longs trying to sell to the highest rice available.
This is still a flat to bearish move
I'm not shorting hard yet, but I'm testing the waters with small positions.