Update 3:58pm EST: crazy close as expected, watch for AA earnings after cash close. Thx for visiting and check back later for daily update and intranight analysis.
Update 3:41pm EST: long ambush work and seems to have broken out of consolidation, daily highs and 822.25 next expected resistance
If 819.5 remains the high of the run 815.25 is AL from the lows
Update 3:19pm EST: traded well into the ambush zone and up against previous resistance line. Just watching the rest of the action rest of the day due to earnings and uptick madness after the close / tomorrow. Support on the downside lows and 809, on the upside break about this ambush zone, then 822.25 and 829.25 in case bulls decide to get very creative.
Update 3:13pm ESt: 2500t chart had put in 4 green trend bars suggesting reversal, this is critical point. if this break to the upside next target 822.25 which is daily high and ambush short from overnight highs.
Update 3:10pm EST: Traded right up to 816.5 daily 50% short, if that ambush doesn’t hold new highs are likely. Be careful either way in last hour!
Update 3:00pm EST: welcome to last hour madness, where technicals go out the window.
Update 2:51pm EST: 810.75 ambush from Wednesday lows is providing strong support, 815 will be a first line for bears to defend, then 816.5, before being all clear to daily highs.
Update 2:16pm EST: after 815, 816.5 next ambush short & previous support. After that all clear to trading hours highs with break above 818. On the downside still awaiting 809, if that doesn’t hold this could get ugly into the close
Update 2:09 pm EST : considering 810.75 holds, 815 is first level to watch, still waiting for 809 on $tick LOD for perfect entry
Update 1:44pm EST: 815.25 Al from recent peak, 816.75 previous resistance @ AS from highs. Would need to go through those levels to start building a bullish case. Would still expect 809 ambush/gap fill tag before any significant bounce.
Update 1:41pm EST: bouncing in that gap fill/ambush area, watching 815.25 short ambush for further direction (considering 811.25 low holds)
Update 1:32pm EST: heading for new lows, new extremely low $tick at 809 on a quick plunge down would be perfect. Besides gap fill, little resistance all the way to 800.
Update 1:10pm EST: looks like ES is breaking down a little bit, heading for retest of 813.5 AL , daily lows and then gap and ambushes form chart below:
Update 1:00pm EST: snoozefest continues… maybe 1:30 reversal period will bring some action
Update 12:40 pm EST: 2500t, 100k, 60m trends all pointing bearish while at the bottom of ambush consolidation range.
Update 12:25pm EST: After finding support at 817.25 ambush ES lost the battle at VWAP now retesting that ambush again, break below would mean retest of 813.75 big AL and today’s low with gap resistance and another ambush right under, still looking for 823 on the upside
Update 11:40am EST: ES finally pushed down to daily AL at 817.25, if that fails will be looking for retest of the lows, otherwise expecting to further trade in this ambush consolidation zone. 817.25 -823
Update 10:58am EST: 817.5 AL from the lows, 823 AS from closing highs, watching those levels for now.
Euro found support at 38% retrace of recent ambush confirming that fibs from that particular level are respected, patiently waiting for 1.331 short entry
Update 10:49 am EST: as previously mentioned, expecting this to grind higher until major resistance is met , or high is confirmed by high tick.
Update 10:36 am eSt: new high without a new high tick, suggesting we will keep grinding higher. Still watching for 823 on upside , 816.75 AL from the lows
Update 10:34 am EST, new high $tick of the day at 989 on the recent 820.75, now that tick is getting high in it’s range it will be key in watching for possible short term reversals
Update 10:29 am EST: 817.25 tested , with tick uptrend and 2500t chart uptrend likely to break, next high probability short entry at 823 short ambush.
Still watching for euro to retrace to 1.331 for short entry
Update 10:09 am EST: so far looks like past 2 trading sessions of slow-bleed-rounded-bottom-close-near-highs action. Short term (10pts each way) there is less resistance to the upside.
Update 10:01 am EST: 2500t chart put in first 2 green bars, could be a sign of short term reversal, all larger time frames still pointing lower
New Upside Targets 817.25 ambush, 823 AS, 830 major AS from the highs with half gap fill at 824.5
Downside targets still the same from 9:10 update + retest of the lows.
Update 9:46 am EST: ES gaped lower and only traded a few ticks into the gap and later making a new low, thus making previously listed upside resistance levels different, considering 812.25 holds closes level is 817.25.
Update 9:10am EST: Action kicks off in 20 minutes, here are levels to watch:
ES:
Downside: 813.5 AL from last 4 day move, 810.75 AL from Wednesday’s low, 809.5 gap fill and AL from low last Monday
Upside (considering 813.5 holds for now): Minor AS zone 818, 823.75 AS from overnight / closing highs, 830.5 AS from overall highs of the rally.
Euro: first decent AS at 1.3310, no particular support on the downside for another 100+ pips.
Update 8:30am EST: Globex highs and lows have been working better on ambushes than trading hours only recent, Wednesday low to Globex Sunday high ambush was tagged to a tick:
Good Morning Traders,
rather signficant overnight action with ES breaking Monday’s low and now trading inside of the gap with gap fill and test of 50% line seeming rather inevitable at this point (overnight low 813.5):
On ES also keep an
Euro broke down broke down below the ambush zone of the recent move up with closest high probability short entry at 1.3310.
Good luck and good trading to all
Vlad
P.s.
always nice to wake up with a short position up 17 points, especially the one you tried to re-short 3 separate times