Update Cash Close:
Closed at the highs after ripping almost 35 ES points from overnight lows.

Have a good rest of the day and check back later for daily summaries

Update 3:06pm EST:
Last Hour. Not initiating any new trades, just managing few open intraday scalp positions. Next level on ES unfilled gap at 906.75 from May 13th. Ambush zone from the highs 61% line is at 908.75. Break above would mean likely retest of rally highs.

Update 2:43pm EST:
new high with new high tick of the month in the ambush zone starting 902.25. Second test of the ambush zone

Update 2:28pm EST:
new high $TICK since April 16th put in = 1334, usually a bullish sign suggesting continuation of the bullish trend. Holding on to my short letting stops do the work

Update 1:05pm EST:
Traded within one tick of 902 / 50% retracement from the highs in high $TICK of 1282.  Just got new low tick near highs, likely trend reversal
Disclosure: Shorted that high $TICK

Euro has bounced almost 80 pips from previous 1.3468 ambush from weekly lows and is now at 1st resistance from earlier  euro update

Update 10:47am EST:
Next key ES resistance level at 902 - ambush from rally highs

Update 10:24am EST:
ES made a slightly higher high, still in the ambush zone,  on new high $tick of the day (only 981)
Euro had a nice bounce  at 1.3468 ambush.

Update 10:13 am EST:
ES bounced at trendline/retracement from early morning update, now looking at reaction at 50% retracement from multi week low on the downside at 884.75

Update 10:11 am eST:
Euro 50% retracement from overnight / weekly low at 1.3468

Update 9:32 an EST:
ES at first resistance from early morning update

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Good Morning Traders,

New week is here and all major futures tracked on this blog are near key levels in determining further trend. For immediate suport/resistance levels check out blog posts from earlier today:

• EC Fx Futures Resistance and Support Levels
• Expected ES Futures Resistance Levels

As usual, will be updating intraday as new technical developments take place.

Good luck and Great Trading to all this week

Vlad

Hey Traders,

Gold is testing the bottom of the recent uptrend channel:

Break & close below would make retest of 50ema and bottom of the channel on the daily chart more likely

On the upside 50% retracement and top of the channel in the ambush zone expected to act as resistance

Hey Traders,

Euro ound support at 38% retracement of the move in last 4 weeks, so considering retracement levels from that low are being respected, will be watching 1.3340 as 50% retracement form that same low, which is also happens to be target of one of the resistance levels above.

First level of resistance is expcted in 1.3534-1.3542 Fib confluence area, and also another fib confluence area right above at 1.357 which would also be backtest of recent up trend line.

Will be watching levels from this update for further clues as to where euro is headed longer term.

Cheers

Vlad

Good Morning Traders

ES has bounced rather sharply ovenright and is getting a little overbought short term, expected resistance levels are:

• 893.75 50% retracement with trendline going through it, as retracements from 912.5 high reacted well twice already, also a previous intraday support, expected to act as resistance
• 902 above, as 50% retracement from overall rally highs

Cheers

Vlad