this is the prediction of how index futures may go for next week starting 11 May 2020 as you can see there are perfect elliot impulse wave (12345) then correction wave ( ABC ) we are going to phase C this week so be prepare (to short trade?) !!!
Lines on SPX500 chart are 6 points higher than I am using for ES ES has taken a nice upward move over night but is still below the prior sessions overnight move, however is taking a hard look at trying to move higher into last weeks distribution so first target is the middle of last Friday's range and if higher will look at Friday's top as next up side...
for front month ES contract spx500 pricing for the lines are 10 points higher than I am using for ES Currently Es is trading is a big balancing area and after a good sized up move back into prior range, this make me watch top of the range (red top) for continued up move into higher target marked in blue line. I f no up move then the bigger pull down will be the...
We are trading in balance in range and looking for the next breaking move, so until that happens will be looking inside the range for back and forth trades until that break. Will be looking for the days primary directional focus and keeping the day trades in that direction a test of 2485 and then drop is very possible and would be a area I will watch close.
Last few days has put us in a bottom move comfort zone and no clear direction until this zone of 2544 - 2350 (ES, please verify your chart like spx500 numbers can be different) has been cleared. This said 200 point consolidation is massive and provides many trading opportunities. I will be looking a opening move that will give me direction. Normally I would say a...
After yesterday massive down move we are now balancing in the lower part of teh trade range and the break of this range is important. Looks like lower is still wanted and no real buyers have been found yet. If we do drop and break first blue target I will then look and post next level if it comes to that, There still can be some testing of higher areas and see...
Will not say much, but after we see how it reopens will up date then but any bounce that remains below 2700 i think is bearish and a drop below 2600 could rip to next breaker.
the over night session has been long the entire night and is either ready to break higher or making a big low level balance zone, so watch for tells to what one it will be. now the range of the red zone is massive and even if we are balancing there should be some massive scalping trades to be had. Break out will look to see if R becomes S and S becomes R and if...
What a interesting day we are about to have, and also a very hard day to get a solid game plan for with so very little overnight trades. The golden Rod lines are very important bigger picture locations, and then we have teh red zone based on the more current overnight action. I will not have much of a plan other than watch teh reopen and see if the massive...
Big move and going to test some lower levels and that could come fast so look for impulse and then react. Higher can come but not leaning that way right now,
Today overnight has been 100% down form close and is either looking bearish after a possible bounce or will remain in a very choppy zone. Not much news has changed so real good odds today is choppy. We also are in a big balancing zone that will break, what we do not know is when that happens. So keep eyes open for the break but I will trade teh balance like it...
Looking at a over night that is inside yesterdays range and for me needs to clear this zone for a confirmation of markets desired direction, so will be looking for back and forth trading until that direction finds us.
Nice move up that happened with out balance and now in the over night session has found balance for the time being. The balancing area is 100% above yesterdays action and looks like could be setting up a nice long trade, however I do not see the down side as resolved yet but that does not have to happen before a decent up move. Do watch the red bottom and if we...
The markets have accepted these lower levels for now and could consolidate to build energy for the next move, and this is happening inside a big balancing zone. the over night attempt higher was not that impressive but did print an accumulation from the bottom. If this current low breaks a fast move lower is likely. I will be watching close for a red zone break...
Today the red zone sits right on the over night range and this is a big range so lots of inside trading if we can not break out of this zone. will be looking for higher lows or lower highs to take a inside direction trade that could maybe break out. A move below the ON session could see a fast drop to 2800.
still move down with strong acceptance to the lower values so leaning short. a move above the red top could see a decent bounce but that still keeps the short side intact. will need to see more than one day bounce to regain the up movement. So leaning short.
es has bee for the most part sideways through the overnight after testing a bit lower. will watch for a break of the red zone for a direction to my trading. We have moved back down to some golden rod lines that where important accumulation areas when we traded these levels before, will be interesting to see if they come back into play. What this means is buys...
Today looks like we are going to play around inside the over night zone and could be a very choppy day. Any substantial break of the red zone will be a strong indicator of what side of the market wants to take control. So looking for a back and forth trade until we clear this zone. Bigger idea this is a balance at the bottom of a big move and could be telling...