Recap
Last week saw the ES snapping its five-week losing streak. The catalyst? A recapturing of its core bull market trendline from October 2022 on the 6th, triggering a robust 187-point rally. Though the week ended on a lower note, it presented a tactical buying opportunity. ES is currently in a 3-day limbo, fluctuating between 4410 and 4355 since last Wednesday.
The Markets Overnight
🌏 Asia: On the Rise
🌍 Europe: A Mixed Bag
🌎 US Index Futures: Plunging
🛢 Crude Oil: Slightly Higher
💵 Dollar: Mild Gains
🧐 Yields: Strong Upward Trend
🔮 Crypto: Taking a Hit
Major Global Catalysts
Key Structures
Some big-picture structures/notable levels from highest to lowest include 4477, 4418, 4408-10, 4375-66, 4336, 4322-25, and 4314.
Support Levels
4477, 4418, 4408-10, 4375-66, 4336, 4322-25, 4314.
Resistance Levels
4408-10, 4418, 4424, 4433, 4439-42, 4450-55, 4462, 4471, 4478, 4484-88, 4496, 4504-08, 4515, 4526, 4532, and 4543.
Trading Plan
The goal for Tuesday is to trade level to level, one move at a time. If we break higher today, I am not a big fan of counter-trending, but for those who enjoy it, the 4439 zone would be one spot, as would be 4450-55. If 4366 fails, I would consider a breakdown short after at 4362. Level to level profit takes.
Wrap Up
In summary, we had a great rally yesterday, and now it's time to build a base. My general lean here is that ES can fill out the 4408 to 4366 range. This would then produce another leg up to 4418, 4439, then 4450+. If 4366 fails, we work down the levels, likely to 4325.
Disclosure: This is not financial advice and is for informational purposes only. Please consult a professional financial advisor before making any investment decision.
Last week saw the ES snapping its five-week losing streak. The catalyst? A recapturing of its core bull market trendline from October 2022 on the 6th, triggering a robust 187-point rally. Though the week ended on a lower note, it presented a tactical buying opportunity. ES is currently in a 3-day limbo, fluctuating between 4410 and 4355 since last Wednesday.
The Markets Overnight
🌏 Asia: On the Rise
🌍 Europe: A Mixed Bag
🌎 US Index Futures: Plunging
🛢 Crude Oil: Slightly Higher
💵 Dollar: Mild Gains
🧐 Yields: Strong Upward Trend
🔮 Crypto: Taking a Hit
Major Global Catalysts
- US to Ease Sanctions on Venezuelan Oil Industry
- Middle East on the Cusp of Widespread Conflict
Key Structures
Some big-picture structures/notable levels from highest to lowest include 4477, 4418, 4408-10, 4375-66, 4336, 4322-25, and 4314.
Support Levels
4477, 4418, 4408-10, 4375-66, 4336, 4322-25, 4314.
Resistance Levels
4408-10, 4418, 4424, 4433, 4439-42, 4450-55, 4462, 4471, 4478, 4484-88, 4496, 4504-08, 4515, 4526, 4532, and 4543.
Trading Plan
The goal for Tuesday is to trade level to level, one move at a time. If we break higher today, I am not a big fan of counter-trending, but for those who enjoy it, the 4439 zone would be one spot, as would be 4450-55. If 4366 fails, I would consider a breakdown short after at 4362. Level to level profit takes.
Wrap Up
In summary, we had a great rally yesterday, and now it's time to build a base. My general lean here is that ES can fill out the 4408 to 4366 range. This would then produce another leg up to 4418, 4439, then 4450+. If 4366 fails, we work down the levels, likely to 4325.
Disclosure: This is not financial advice and is for informational purposes only. Please consult a professional financial advisor before making any investment decision.
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.
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.