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Monthly Archives: January 2016
ES weekend update
The ES finally broke out of the 1905 area and managed to close at 1931.25 ending the downtrend on the Daily chart. The first pull back to the 1905 area should be defended by the bulls and this will … Continue reading
Sideways
Overnight and today, the ES has confirmed its wild sideways movement. I’m suspecting a move lower but we will have to wait and see. A very wide sideways area, our MR is 1910 now and our MS is at … Continue reading
FOMC Aftermath
Today at 11:15 am EST the market broke out above the 1900 area to a high of 1910 which, if held, would have ended the downtrend on the Daily chart. By 2 pm, the market gave it all back and … Continue reading
Pre FOMC update
I’ve updated our support and resistance areas to reflect the last price action. I’ve drawn in MS at the 1877 level since price bounced off this area several times overnight. So currently we are in a ping pong from … Continue reading
Hourly sideways trend
After hitting the 1851 area the ES has managed to go all the way back up to the 1904 area and is beginning to roll over as we close the day of trading on Wall Street. We have a … Continue reading
Overnight target hit
After the price violation of mS on Monday price continued lower to our T1 area of 1855 slightly moving lower to 1851 then bouncing overnight to our mR area where price should sell off here again and head back … Continue reading
Daily price action confirms downtrend
Well, things pretty much worked out the way I described over the weekend in the ES. Price could not make it over the 1908 area and basically rolled over selling off hard near the end of the day confirming … Continue reading
Posted in ES Market update
Tagged ES, Price Action
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Weekend update
Since it’s the weekend let’s check out our larger time frames in the ES. The monthly uptrend is still intact, we would have to close below 1785 for the uptrend to end. ES Monthly The weekly closed with a … Continue reading
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ES confirms new uptrend overnight
The ES moved above MR the 1876 level overnight and is currently at 1888. My first target is 1907 where I’ll be looking to trade a CCS or a PDS depending on the volatility. We should see price get … Continue reading
The market is “Ping Pong” sideways…
I was right this morning about our sideways market but I had to draw in the 1835.75 area of Major Support MS raising it from 1804. Like I said this morning, the longer we go sideways, the bets are … Continue reading