update 3:36pm EST:
ES back to vwap and 50% retracement, reaction here will be key for further direction, at any rate, careful during last half hour
will be back with daily updates later on today.
Have a great rest of the day
update 2:48pm Est:
Dollar index testing ambush zone from the lows, reaction in that area will be key for behavior of commods, indices and fx.
If 914 holds, 906.75 is VWAP and 50% retracement from the lows
update 2:18pm EST:
Euro at ambush and 200ema described in yesterdays update
update 1:44pm EST:
Now trying to get part 2 of the plan to work, thats of course considering ES resumes the move lower, and this is not the biggest retracement we get:
After ES clears this trendline (red arrow), will be looking for 921 fib confluence / ambush and then 926 fib concluence/ambush/backtest of channel to act as resistance.
Just the first update today as there was nothing to update on so far, everything is working out according to plan from daily updates last night, ES pushed down into extreme oversold conditions in 50ema -200dma pocket and bounced for 11+ pts as of now:
gold has found resistance at the long term trendline once again and bounced for $10+
and euro continues to bounce along two ambushes.
Hope you having a good trading day