Tag Archives: MS

2015 hit

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  Finally my 2015 area of mS was hit this morning and I was able to back ratio my 209/210 call credit spread by 1 contract.  So I took a small profit on my short leg and my position is … Continue reading

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Waiting…

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  Currently the ES price action is sideways on the hourly chart but I’m really waiting for price to come back down and hit the 2015 area so I can back ratio my 209/210 call credit spread, exp. May 20th, … Continue reading

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Major Support failed…

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  The market moved lower past the 1911 area of MS just after the market opened today.  Price continued lower all day and as expected, the market moved to the next support area of 1888.  This evening the market looks … Continue reading

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Pre FOMC update

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  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

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Price failed to confirm uptrend

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  The 1894 minor support area failed to push the ES higher on our first pull back overnight on our failed new uptrend.  Currently we are back down at Major Support where price looks like it wants to hit our … Continue reading

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Gap fade play in MS

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My play of the day came in MS which I found on my gap play list as a Tier III type mortgage gap.  As the market closed its first hourly bar with a red topping tail bar, I figured that … Continue reading

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