October 26th - 11:30am
We had a great week, and price continued higher with 6690 being the low for the week. We also finished close to the weekly high of 6840. We had some Trump/China Tweets over the weekend, and I am not sure how that will affect the open tonight. I do know that we need to hold 6811, 6792 on any quick flush out the gate at the open. 6760-66 is a key level this week and we should not see price move any lower than 6740-50 levels, IF price wants to keep running higher.
We do have end of month window dressing coming up with a lot of earnings, Fed meetings and other economic events that should provide some volatility.
Key Support Levels - 6811, 6792, 6763, 6742-50, 6703, 6690
Key Resistance Levels - 6840, 6855, 6891
Bullish Weekly Targets - 6855, 6891, 6946
Any flush of 6811 or 6792 and reclaim, should keep us moving higher overnight. I will have a better sense on Monday am when I post my Daily Trade Plan around 6am EST as to where price is and what levels we need to look for.
If you have been following me for any length of time, you know I am looking for some pullbacks to enter long. The trend in ES is up and should remain bullish, until we lose a significant level such as 6690 then we would need to re-evaluate.
Since we are on the last week of the month, my general lean is that we can continue to take price higher into the weekly targets above.
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Purple Levels - Weekly Low
Green Levels - Weekly Targets
Yellow Levels - Daily Key Levels (See Daily Trade Plan)
White - Trendlines that may produce support/resistance alongside the horizontal trendlines
We had a great week, and price continued higher with 6690 being the low for the week. We also finished close to the weekly high of 6840. We had some Trump/China Tweets over the weekend, and I am not sure how that will affect the open tonight. I do know that we need to hold 6811, 6792 on any quick flush out the gate at the open. 6760-66 is a key level this week and we should not see price move any lower than 6740-50 levels, IF price wants to keep running higher.
We do have end of month window dressing coming up with a lot of earnings, Fed meetings and other economic events that should provide some volatility.
Key Support Levels - 6811, 6792, 6763, 6742-50, 6703, 6690
Key Resistance Levels - 6840, 6855, 6891
Bullish Weekly Targets - 6855, 6891, 6946
Any flush of 6811 or 6792 and reclaim, should keep us moving higher overnight. I will have a better sense on Monday am when I post my Daily Trade Plan around 6am EST as to where price is and what levels we need to look for.
If you have been following me for any length of time, you know I am looking for some pullbacks to enter long. The trend in ES is up and should remain bullish, until we lose a significant level such as 6690 then we would need to re-evaluate.
Since we are on the last week of the month, my general lean is that we can continue to take price higher into the weekly targets above.
-------------------------------------------------------------------------------------------------------------
Purple Levels - Weekly Low
Green Levels - Weekly Targets
Yellow Levels - Daily Key Levels (See Daily Trade Plan)
White - Trendlines that may produce support/resistance alongside the horizontal trendlines
Nota
October 27th - 7:25am - UpdateWe gapped up at the Sunday evening open and hit our weekly target of 6891. I still anticipate reaching 6946 this week, but we need a pull back to engage and ride higher. My bigger targets that could happen this week or over the coming weeks is the target of 7200.
Nota
October 28th - 3:30pm - UpdateWe are heading into our last big target of the week at 6946. We could go higher, but that was my minimum expectation for the week. We have FOMC on Wednesday, Jobless Claims & GDP out on Thursday at 8:30am and PCE, Consumer Spending and other economic data points Friday. Expect volatility the rest of this week!
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Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.