What can we expect tonight and tomorrow on ES? Lets see here...
Globex right of the open inventory was long and we found a seller, sold lower until we found buyers AKA trapped shorts under the 4640 level, longs started building a position there once price stabilized, which was then taken and sold higher but since it was a low volume holiday we didn't have enough gas to take out the stops from overnight high. Tonight and tomorrow looking to see if we have more selling to take us back and test 4640 area again or do we have all the supply and use Globex to take the supply higher over 4672 to sell it between 4672-4705-4740. IF we do not have all the supply yet would watch to trade between 4672-4640-4630. Unless we get some OTF ( outside time frame selling ) we do not expect it to break down to 4607 because we have limited supply and there are buyers waiting for it under 4640. Looking for longs around 4640-30 and under, shorts around 4672 unless we break and hold over/under those and see signs of continuation higher/lower. HIT Like and follow my insta if this is helpful or you used it in your trading leave a comment let me know! Thanks
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