As expected the price action in the ES formed a narrow range green bar yesterday finding mS at 1966 after making a new high of 1984.50. Price has since ground higher late yesterday afternoon into this early morning topping out with a new high of 1987.75. Our 1966 pivot area is now Major Support (MS) and the sideways price action has formed a new area of minor Support (mS) at the 1978 area. For our uptrend to continue price will have to stay above the 1978 and head for our T1 area of 1991. If price breaks below the 1978 level and stays above 1966 then price would be in a sideways trading range. The break of the 1966 level would officially end the current uptrend move.
TraderHank’s most used Tags5 minute buy 5 minute Sell 9:45 am play 15 minute buy 15 minute sell AAPL AIG ALL AUDUSD Breakout C consolidation COST Counter Trend Day Trading EBAY ES FB FSLR Gap Gap continuation Gap play GILD HD Hourly sell JOY JPM LLY MET MS Options Price Action PSS Pull Back QQQ short Short play Sideways SPY TGT Tier II Tier III UAL update uptrend