ES still clinging to positive momentum, watch 2350
Watch 2350 as an arbiter of further momo strength following Friday's 3:30 ramp'd close above 2346. Prior rebounds off of intraday pullbacks point to 2360, while fib extensions add another 2pts, targeting 2362. On the daily view, ES looks toppy and another test of 2338 looks warranted. I'm long Wed 2350 calls. I'll close these on a weak move to/above 2350. Risk/reward doesn't support holding through a pull-back. In that case, I'll open EOW 2350 calls around 2338.
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