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
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:
As usual, will be updating intraday as new technical developments take place.
Good luck and Great Trading to all this week