Update WTF EST: looks like GS moved earning to after the close. Good for them.
Update @ Close: extremely low volume day, all eyes on GS earning in the morning.
Check back later for daily update.
Update 3:31 pm EST:
all trends green, ES at highs with no recent high/tick confirmation. Another new high as I type
Update 3:07 pm EST:
new high made with no new high $tick. Best probability trade right now is to stay out.
Update 3pm EST:
last hour 3:00 fakeout spike, just as expected form this low volume opex last hour
Update 2:30pm EST: Euro has stalled in 54 pip wide ambush zone. ES is still has not had any noteable breakdowns to start building bearish case. 2500t trend mixed, 100k bullish, hourly also bullish. 1.5 hrs to go in this very very low volume trading session, just crossed 1M contract volume
Update 2:10pm EST: Watching 850-851 ambush long area for short term direction, with major daily AL right under at 849
Update 2:01 pm EST: trading above overall rally highs, no $tick confirmation on recent high.
Update 1:21pm EST: Overnight Gap filled,only resistance left is recent highs, see graphs below
Update 12:45pm EST:
only 741,000 contracts traded so far on the day, this is very very low. All the fun will begin with GS earnings looks like.
Update 12:18pm EST:
Not much doing in the ES, just chopping around
EUR has traded into expected resistance zone starting 1.3352 and is now pulling back slightly. If current high holds, 1.3250 will be key level on the downside.
Update 10:25am EST:
Gap fill 852.75, Thursday highs 845.5, after that no major resistance until 870
Update 10:11 am eST: 2500t chart has put in 2 green bars as ES approaches key 848 level, break above 849.5 would suggest quick trip to fill Sunday’s gap and re-test of highs.
Update 10 am EST: considering I will be updating less often today due to wonderful taxes, shall 840 break next support level expected at previous resistance and large 50% retracement at 833.
Recent lows have been man made without confirmation of new low $TICK of the day, suggesting we could continue seeing lows. If 841.5 low does hold, first key test on the upside is 845.5 followed by 848-849.5 ambush zone to determine further trend.
Update 9:45am EST:
Be cautious today as it is EU banking holiday and OPEX Monday, choppy light volume action is expected. Still watching for 840 as first support level on the downside. As well as watching $Tick for trend reversal clues after 10am
Update 9:40am EST:
Gold has retraced within $1 of expected retracement target from weekly analysis, break above 910 level could mean new uptrend is in place.
900.4 will be key to watch if GC does trade up to that level.
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Good Morning Traders,
Nothing much has changed with the ES since the intranight futures update, first support is still expected at 840, with first short term resistance at 849.5, with break above 850.5 making retest of highs more likely.
Euro has made a strong move up overnight, braking some some short term bearish trends, next key level 1.3352
Good luck and good trading to you this week
Vlad
(if you have not had a chance to, check out weekly analysis for key levels on bigger time frames)