ESMorg

ESMorg

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...

ESMorg

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...

ESMorg

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...

ESMorg

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...

ESMorg

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...

ESMorg

Wednesday, sellers broke below the key 5865 level and buyers back-tested it yesterday. As expected, we got another back-test today, which just hit. It’s still a solid resistance level—protect gains today and keep a runner if you can. As of now: Looking for a base to form, with 5878-83+ being the next upside targets. Supports are at 5848 and 5842; if these don’t...

ESMorg

Plan for Friday: Supports: • Major: 5842, 5825, 5805-07, 5787, 5763, 5756, 5746, 5725-29, 5711, 5690 • Minor: 5853, 5848, 5838, 5818, 5814, 5798, 5783, 5774, 5768, 5751, 5740, 5733, 5715, 5702, 5695 Overview: Today was a straightforward backtest of 5864 followed by a dip, then a return to that level, marking a typical rangebound day. We are now in...

ESMorg

Full round trip: In ES, every sell-off has been followed by a short squeeze, and we saw both play out yesterday. Once 5857 broke, shorts were triggered, and I was eyeing 5854, then 5864 on a reclaim, both of which were hit overnight. As of now: 5864 (weak) and 5855 are the key supports. If these hold, 5878 and 5886 stay in play. If 5855 gives way, 5838 below

ESMorg

Yesterday, my target in ES was 5902. That’s exactly where the high of the day was set. The pattern remains the same: rally during the day, dip overnight. As of now: 5868 is the key support and next level down. Bulls need to recover 5887 if they want to push directly back to 5902+.

ESMorg

Since Thursday, ES has been all about one level: 5892, acting as a magnet. Yesterday, we saw a failed breakdown at 5878, with targets at 5892 and 5902. We hit 5902 but sellers rejected overnight. As of now: Supports are at 5867 and 5855-57. Bulls need to reclaim 5878 to push back toward 5892+. If 5855 fails, 5843 is next down.

ESMorg

On Friday, I was targeting a rally in ES to 5915, which has been a key resistance level for several days. We hit it spot on Friday, touched it again at last night’s open, then pulled back from there As of now: 5882-78 is the support zone. We need to reclaim 5892 to aim for 5902 and 5915 again. If 5882 breaks, 5869 and 5850 below

ESMorg

Plan for Monday: Supports: • Major: 5892, 5878, 5869, 5850, 5820, 5802-05, 5787, 5770, 5752, 5734, 5710, 5683, 5676, 5657-60 • Minor: 5882, 5871, 5862, 5857, 5842, 5834, 5828, 5814, 5796, 5782, 5779, 5763, 5755, 5746, 5740, 5725, 5721, 5715, 5708-10, 5702, 5693, 5679, 5669, 5666 What I’m Watching: We are inside a broad consolidation zone from 5915...