Update Cash Close:
Well that was a refreshing close after 6 straight ~940.
Will be posting daily updates shortly after the close
have great rest of the day
Update 3:20pm EST:
Got new high tick of 897, first reading above 800, last hour magic and WTF patterns into the close possible. I am staying out.
Update 3pm EST:
Last hour, as always use extra caution especially since it is OPEX week.
Some key technical developments in all 3 followed markets, will have to take a look top down after market close and re-evaluate.
Update 11:25am EST:
New low $TICK reading since may 21st today and high tick of the day only 451, obviously very strong trend day. Would need to see new high $TICK of the day above 800 for possible trend change clue.Some key levels are being broken, might be wise to stay out if not in a position already.
Euro having a huge day down over 240 pips! haven’t seen that in a while.
Gold Tagged 50% retracement line form weekly update, right above weekly trendline.
Welcome to Quad Opex week! Be careful
Update 10:45am EST:
Channel broken, next support on ES ambush at 913s:
Update 9:46am EST:
ES is testing the bottom of the channel, with two weeks of positions trapped above 918.
Good Morning Traders,
New week is upon us, more particularly OPEX week, before starting to trade always useful to review trading rules: 40 Bits of Trading Wisdom
If you have not yet had a chance, check out all the weekend analysis posts for all main futures discussed in this blog:
As always will be updating intraday as more price action develops.
US dollar seems to be getting some support from other governments, no other reserve currency in sight. Stronger dollar will of course hurt fx, commodities and US indices, will keep an eye on key levels form Weekly Dollar Index Analysis
Feel free to follow @esecfutures on Twitter for intranight updates
Have a great trading week