ESMorg

ESMorg Updated 

The 5886 level remains a money magnet in ES. Yesterday, 5886 served as key support, setting up a relief bounce to the 5934 target. We held 5886 exactly and ran to target. Overnight, it held once again. As of now: No changes. 5886 (weaker now) supports moves to 5911, 5922, and 5935+. If 5886 fails, selling could begin toward 5862.

ESMorg Updated 

On Thursday, sellers broke down the base built from Monday to Thursday at 5998, triggering shorts and hitting the 5885 target on Friday. Now, it’s staging its first relief pop before potentially heading lower. As of now: As long as 5886-88 holds, a relief pop to 5910, 5917, and 5934 is possible. If 5886 fails, look for a dip to 5878, 5871, 5864.

ESMorg

Plan for Monday’s Session Supports: • Major: 5886-88, 5864, 5843-46, 5828, 5806, 5796-5802, 5758, 5749, 5730. • Minor: 5892, 5878, 5871, 5855, 5849, 5839, 5819, 5812, 5787, 5782, 5773, 5768. Context and Strategy: Friday’s session was a strong downside trend day (open-to-close selling) with limited support reactions. As we often see, sharp...

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Yesterday, shorts finally triggered in ES by breaking down a two-day flag. As mentioned, losing Wednesday’s low opened the door to 5972, 5950. We hit 5950 and dropped further overnight. As of now: 5958=resistance, approaching. Unless reclaimed (relief pop to 5972), the selloff likely continues to 5936, 5928.

ESMorg

After last week’s 330-point rally, ES has been following its usual routine after a big move: consolidation, forming a flag. Resistance/target sits at 6028-32, marking yesterday’s highs, and 6009 support held overnight. Don’t overtrade. As of now: 6009=support. This level keeps 6032, 6038, and ATHs in play. Breakdown only kicks in if 5996-98 fails.

ESMorg Updated 

Yesterday, ES saw its first pullback after last week’s 330-point rally. We got a dip to 5986.75, bouncing up 40 points from there. With CPI on deck in 15 mins, it’s time to size down. Plan for now: Key supports at 6002 (weak) and 5988. A reclaim of 6009 opens up targets at 6019 and 6032-33. If 5988 breaks, look for an initial dip to 5972.

ESMorg

Longs keep delivering on what’s shaping up to be the move of the year in ES. As posted consistently last week , the focus is on letting runners do the work and taking profits as the trend continues. Friday’s target of 6038 was hit, with 6050+ now in sight. Lock in more gains here. As of now: 6068-69 and 6098-6100 are the next targets. Support is at 6035-40, with...

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On Wednesday, buyers triggered longs at 5902, sending us all the way to our 6013 target right to the tick yesterday. Now investors are taking a breather, holding around 6000 for the last 17 hours. I often mention how the day after trend legs are experienced traders’ least favorite days to trade. Longs are risky do to chasing. Shorts are risky due to being against...

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Overnight, buyers hit major targets. Yesterday’s 5902 support held as expected, setting up for a move back to 5954 and then 5975, which we’re at now. Reminder: FOMC at 2pm today. Lock in gains, leave a small runner if you have them—any further upside is a bonus for buyers today As of now: 5992 and 6006-07 are in play if buyers wants more. Weak support at 5950; a...

ESMorg

As outlined for the past two days, ES put in a textbook failed breakdown on Monday of last Thursdays lows, triggering a long at 5734 that delivered over 216 points during the election. Like i mentioned often, 95% of rallies start from failed breakdowns. This was no different. As of now: 5919-22 is key support. Flagging above this keeps 5955 and 5973 in play. Dips...

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It’s Election Day, but most of the volatility likely won’t kick in until after 6pm—expect mostly noise until then. I wont be trading today as setups wont be too appealing anyways. Last night, 5734 was noted as support in the 5pm plan; we hit 5735 and saw a 20-point bounce. As of now: Looking for chop between 5770-5734. Key support is 5748, which holds the...

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On Friday, 5802 was the primary target for ES as a major backtest, and we saw a sell-off from there. The 5740 support, talked about Sunday in group, held exactly on target with a bounce last night. As of now: 5760 is today’s support level. Already defended once. Holding above it keeps 5779, 5792, and 5797-5802 in play. If 5760 breaks, a retest of 5740 is sellers...

ESMorg

Plan for Monday Supports: • Major: 5760-63, 5740, 5728-30, 5712, 5692, 5677, 5661, 5646-50, 5616, 5599-5602, 5590, 5575, 5563, 5544, 5524-28, 5499-5502 • Minor: 5756, 5751, 5745, 5723, 5715, 5702, 5683, 5672, 5667, 5654, 5638, 5633, 5627, 5621, 5578, 5558, 5552, 5534, 5517, 5511, 5506 Overview: We’re moving into a high-volatility week with the upcoming...

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On Wednesday evening, ES saw its first short trigger in over a week by breaking below 5843. This led to 30 hours straight of steady selling, reaching the 5744 target. We’re seeing a relief pop now, but bears still remain in control until 5802 and 5828 are recovered. As of now: Upside targets are 5770, 5788, and 5802. Key support is 5741; if that fails, 5721-26...

ESMorg

After a full week stuck in the same range, ES finally broke lower, triggering shorts yesterday evening—the first breakdown in over a week, as outlined in yesterday’s 4pm trading plan. Bears have the advantage now until a resistance level reclaims. As of now: 5828 needs to recover to establish a potential low. Next downside targets are 5800, followed by 5792-88.

ESMorg

For the past two weeks, ES has been forming a large flag pattern with 5864 acting as a key mid-pivot. Yesterday, I was eyeing a rally to the upper range at 5882, 5891+, and we hit 5892 overnight. As of now: Expect some complex chop. Supports are 5864 and 5855; staying above these keeps 5882, 5891, and 5896 in play. If 5855 fails, I’m looking for a drop to 5838.

ESMorg

After rallying to the 5882 target yesterday, ES spent the rest of the day chopping around 5864-65 support. This level remains the pivot/magnet of a two-week range, and we’re not done with it yet—it was lost overnight. As of now: 5843-46 is the next major support level below. If that doesn’t hold, look for 5834 and 5815. Bulls need to reclaim 5855 to rally back...

ESMorg

For the past two weeks, ES has been stuck in a range. We ran to the top of it on Friday, then sellers pulled back. I noted in plan Sunday that 5843 (or 5848 to be safer) needed to recover to push higher again—closed below it late Friday, and reclaimed at open Sunday reaching 5882+. The money has been made, hold runners. As of now: A bit of complexity today. 5865...