Head & Shoulders present for the T.A. 101 peeps. 2590-2740 wave suggests lower reversion. Today's 2725 Bear Zone could be the $ Zone. If that level hold then Bears will gain momentum and Bulls will have no chance for the day. Holding Zone is a dangerous bet but danger is what pays in this game.
Return of the Bear yesterday. Bulls were unable to get above key Holding Zone. Sets up Wednesday for a likely volatile session. Risk is to the downside. 2590-2740 wave calls for lower reversion. Beware of stop zone below 2700 which creates the 2696 Bull Zone. Opportunity for intraday bounce there. Much room to go below there.
2751 is the new 2710. Bulls really, really want it. All Bull today above 2728. Below there, Bears can cause havok. Risk currently to the down side but the upside algo is well-programmed.
TGIM. Super quiet overnight session. Not certain a high is made yet on this up move. Previous swing high potential area was unsuccessful. Late longs should be cautious and not greedy. The higher we creep, the more risk grows to the downside so keep that in mind. Bulls are in control for today as long as they hold 2728. 2750 is the new promised land and magnet.
ESM SWING TRADE 5/10/18 Shorted 2722 Initial Stop: 2738 Target: 2700.50 Trade Expectancy: win 0.774891775 scratch 0.114718615 loss 0.11038961
TGIF. We'll find out today if the upside squeeze has been turned off or still on. The truth will be revealed in the next 8 hours of trading. Manage risk accordingly.
Bulls are so close to reaching their 2710 goal. Today could be the day. Possible Swing high setup between 2710-2720 so fading a super strong pop could be a good bet although price distribution has ran its course and an extension is due. But a protected entry in an "extreme" area of distribution is always a good bet.
2710 magnetic energy back in play once again. Bulls have been eyeing that level for weeks. Persistence will pay off. There are upside stops not far away so a scenario I can see playing out is: pop post cash open, followed by a dump, followed by a bottom, followed by a rally. 2668 Zone is highly important today for Bulls to hold if price finds its way that low.
Widening of the zones suggests an increase in volatility. A post-cash open pop to the overnight high appears to be an attractive sell at the moment. It'll be difficult for Bulls to find support If Bears gain momentum today. It is a setup here for a nice down day but randomness always surprises us.
Bulls have a clear path to 2710 if they want it. 2664 Holding Zone must hold for Bulls to remain in control today. Look for any kind of dip post cash open to get swooped up.
TGIF. Happy NFP. Super Bullish activity yesterday, but no follow-thru overnight. Sets us up today for a consolidation breakout. Risk appears in both directions. 2640 and 2610 are today's magical #s.
Something is going to happen today. The width of these levels suggests a huge volatility pop. I don't know what will happen but there's major risk to the downside (which makes me really bullish actually). If 2605 Bull Zone is broken then the floodgates will be opened. On the flip, if Bulls can get through 2635 Zone then a mega rally can take place...All today!
Happy FOMC day. 0% chance we see a hike today. 100% chance we see some killer moves (hopefully). 2610-2680 wave range needs to get broken. Perhaps that will start today. Everyone knows where those stops are.
Price currently caught in "value" of the 2611-2682 wave. Not much support below today's Holding Zone so a drop down to that low side distribution wouldn't be hard. 2550-2715 wave calls for lower reversion so Bulls will have to dig deep today if they have anything after not showing up to work on Monday.
GM. Happy FOMC Week. Today starts with bullish momentum that's been carried over from the previous week. Risk is to the upside. A break post cash open appears attractive. Bull Zones will find buyers. 2806-2550 wave is close to losing its relevance. The 2718-2610 wave is what we'll be working off of the next day or two. Price currently in that wave's "value" area...
TGIF. Welcome to Trend Friday. Holding Zone = Pivot Zone. Direction break post Cash Open will dictate the direction of the day.