ES punching through the ceiling?
ES closed the week close to 2750, key resistance that held all week after Monday's drop.
I will be looking for short entries close to VAH and 2750ish going into next week. A strong break of Friday's +3 VWAP STDEV (2751) would tempt me into longs, but I probably wouldn't feel great about it at that price until we shoot past 2755...would need quite a bit of momentum for that.
I would prefer longs from the 2725-30 zone, between Friday's VAL and the closing VWAP.
Downside levels I'm watching: 2710, 2675, 2655
Upside levels I'm watching: 2780-88, 2800
Long story short, quite a bullish close to the week. I would like to get into longs at a better price though, at least somewhere at or below 2730ish or Friday's VAL. The closer to 2750 I can get into shorts, the better.
I will be looking for short entries close to VAH and 2750ish going into next week. A strong break of Friday's +3 VWAP STDEV (2751) would tempt me into longs, but I probably wouldn't feel great about it at that price until we shoot past 2755...would need quite a bit of momentum for that.
I would prefer longs from the 2725-30 zone, between Friday's VAL and the closing VWAP.
Downside levels I'm watching: 2710, 2675, 2655
Upside levels I'm watching: 2780-88, 2800
Long story short, quite a bullish close to the week. I would like to get into longs at a better price though, at least somewhere at or below 2730ish or Friday's VAL. The closer to 2750 I can get into shorts, the better.
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