Closing update #ES_F: Boring day but we rallied 290 poitns from Monday's 6360 Failed Breakdown. 6592 was support this morning, held. Targets were 6624 (hit), 6638 (hit), 6647 (high of day), 6672 (not yet). Hold runner. 6624 reclaims work back up. Newsletter out soon with entries
Standard Sunday gap down for #ES_F & everyone knows the drill. 6778-82 was resistance Friday, bulls couldn't recover (held all day) keeping bears in control. Don't knife catch
6652=support. Bulls must recover to see 6680, 6704. 6716 must reclaim to set the low. 6636, 6621 below
Closing update #ES_F: Its been an incredible run. Newsletter readers got the 6791 entry. I posted live here 922AM the 6808 trap long. Target was 6855, with 6899, 6913 bonus. Now, we need to digest the move to setup the next leg. Newsletter out soon talking the next big entry
@Kamil70154936 Then we'll have a huge green day shortly as ES unwinds this (this sell will produce a 100-300 point rally), then people will say the bottom is in, then another red day after and the cycle continues.
Closing update: 1st open to close red day since Nov 20th (#ES_F gets 1-2 per month). 6818-22 had to recover to rally as posted, we backtested it 2x & sold. Bulls must recover 6796 this eve to see 6806, 6818-22 (bears control below). 81, 67 next. Newsletter out soon with entry
There's the full 100% retrace of yesterday's rally. 6638-42 reclaim was long trigger 2:40PM ystd. 6701, 6764 targets. We ran 145 points in #ES_F off that, now back to ground zero. No knife catching though when ES is flushing.
6638-42 must reclaim to pop to 6650+. 6617, 05 below
Closing update #ES_F: 1st real red day after a 240+ point rally and we are almost exactly where we were 1 week ago. 6847-51 backtest took us down, and on a macro basis, it must recover to resume leg up. Bulls must recover 6772 overnight to rally. Newsletter out soon with entries
Closing update #ES_F: Very slow session & sitting exactly where we opened at 6pm last evening at 6877, which is a magnet. 6877 reclaims as posted targeted 88, 93 (hit to the tick). 6900, 6807+ when ready. Watch traps of 77 again overnight. Newsletter out soon with new entries
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We are arriving at 6484 target 2 in #ES_F. I gave 3 targets for today's holiday at 8am: 6478 (hit), 6484 (hit), 6488. Long trigger was the 6460-62 Failed Breakdown given here and in newsletter & we got it both Friday and overnight(was still active 8am)
Protect gains, ride runner
Today was 1st decent sell setup in weeks. As posted 6453 fail triggers down to 6439 (bounced exact), 6429, 6405-10. Sells in #ES_F occur when a *Failed Breakdown, fails*. We had the overnight Failed Breakdown of ystds low, ran to 6474 target 10am, lost 53
39 must reclaim to pop.
Here's ~6257 in #ES_F. Bears control on the loss of the 6374 shelf as posted & we squeeze *only* when a level reclaims. 6298-6301 support posted at 8am. We held exact, rallied 25 points. I posted its fail would see 6284, 6257.
Big test. 6284, 6298-6301 above. 6231-33 below
This week all about 6374 lvl in #ES_F. After FOMC it flushed, reclaimed, gave us 100 point long. Yesterday it did again, long to ~6404 target. On 3rd crack, it failed backtested midnight, sold
Plan today: 6301-6298=support(held). 11 reclaim sees 25, 33, 49. 6301 fails, sell 6284
Clear Failed Breakdown in #ES_F & explicitly given in yesterdays 4p, newsletter. Exact same entry as yesterday that gave us the 100 point rally. Flush 6374 (lost yesterdays low), recover, long. Targets were 6381, 6391, 6404-07. Protect gains before earnings. 6415, 6438 above 6407
The long entry was provided by FOMC hawkishness and tariff curveballs. The reward came in the form of blowout reports by MSFT and META. Nothing wrong with acknowledging that fundamentals drive price discovery and not the other way around. Cheers, mate.
Yesterdays FOMC gave us a 100 point long. As warned, FOMC days are defined by traps. In this case, 6374 was support as posted, we flushed it, reclaimed, longed (6452 was target). Now, its messy chop time in #ES_F, lay low
6452 reclaim low quality to 63, 72. 6438, 6415-18 below
Cooloff finally underway in #ES_F after rallying nonstop since Wednesday low. 6208 was support today to setup 6220 (hit), 6235 (hit), 6250. We hit 6235 & dipped. I posted 6208 was support & we bounced 12 points there, then lost it
6191, 6182 remain below. 6208 recovery to rally