We are still in the same distribution of last week, however there are a few interesting points to watch for. look for move below 2886 for any hope of a continuation to the down side, above that level we just remain in the 2900 and 2907 area. The high from last week is the other important zone, and above that the market could see a very strong sharp move to ATH...
Divergences starting to perk up all over the place.
Overnight price continued to the downside as noted yesterday. It took out last week Friday's low. In overnight session, it has taken out Asian highs. Today I expect the price to be on upside. Note last trading day of the week, so everyone should be flat by end of the day as you never know what will happen during the long weekend.
add in 4 points for ES levels. Toady we are inside yesterday's range so far and are looking at 2 things one a move above the 2918 area and if this happens I would target 2936 for the day. NQ is leading very strong to the up side and if it stays strong this is the most likely event. In the event the upside fails, what has been happening early as of late in the...
looking for a opening that pulls back to the 2809 area or a bit lower and then a bounce to take us to 2802 and 2836. If this area of 2804 does not support the bounce then probably trade sideways just above the 2800 area.
Today in the over night was a very small sideways range making me think we go further up today or tomorrow, if tomorrow then today will likely be a small range. The trade I will look for is a open that test lower for a buying spot, observe chart lines for the buying spot. If we remain in this tight range will see very few trading spots. it we do not get a down...
we could get gap up and rip right to 2922, but also could get a bit of retrace back to 2900 2902 area then push back up. Crazy times
Target $2911 Gravity Point
today looks bullish and is testing the distribution highs so very probable we get the up side break out today, and if that happens will provide targets at that point. The over night is very balanced so hard to pin point a opening, but will be looking for longs off the levels marked on the chart, remember ES is +4, Just because we are ready for a breaking move...
the 2nd idea is we open drops to 74 (78 ES) and then sits sideways followed by a further drop to 66 (70 Es). we also could get a opening pop going right back to the top of the marked areas of 93 (97 - 98 ES). but do expect pretty much same chop till we can clear this multi day distribution. Leaning on the short side due to DOW weakness. but that can change real fast
Will be looking at the same levels I have posted for yesterday as shown on chart in the ES they are adjusted up plus 4 aprox. I do not need to be anymore accurate than that, I play areas not specific numbers, even though they works out most of the time
the levels on this chart can be adjusted to Es by adding 4 points to the numbers. At his point looking for a range trade between the tow upper levels so a long at bottom of range and short from top. a break above the top line will require a new look for upper target. if we move below 89 then see a move to 85 and if we hang out in this area with little bounce then...
meaningful discussion is posted on the picture
While the large-cap stock indexes like the $SPY $SPX $QQQ $DIA have been running higher, they are now at resistance and should stall out or at least slowdown. Small-cap stocks have been building a base for a mega rally that could make the large-cap run look like chump change! See more analysis on the small-cap sector: Click Here
We gapped on Monday, reaching 2874.75 point, where the market pivoted at the beginning of 2018, I have found gaps on the ES to be very reliable to foresee that the market is going to move at some point towards the gap and close it (in the ES) the higher the time frame we see the gap in the more attention we should pay to it. Just look at what happened last Dec...
Lots of intraday pivot lows that will trigger strong sell-off today if price starts to breakdown.