We've bounced off yesterday's lows; note the multi-day support in the ES contract around the 1127 area. That places us in a trading range defined by those 1127 area lows and yesterday's highs.
Note also that the 1137 area that acted as resistance after yesterday's initial leg down is now near-term resistance for the bounce off the lows. This nicely defines a range within a range. Morning trading should be cognizant of both ranges and alert to whether buying/selling expands or dries up as we approach these range extremes.
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4 comments:
goog fell thru the trap door of the gallows: 50 day MA
johnstown flood coming
hey, u guys, how about some help. stopped out of my short es
How about that volume on ES. Wow, never saw that much outside of open & close, and that was about double amount of an opening 15m ES bar.
Also was thinking that today would also repeat the prior down day reversal pair, but it's still only midday.
Even NQ contract is showing some sneaky volume spikes throughout midday here.
Currently a divergence between yesterday's high being surpassed. Higher high on SPX, and NQ, not yet on ES. Looks like possible potential for some more to go this afternoon.
I have yet to trade tho bc the setups haven't been consistent with my trading plan yet today.
I am the ultimate sniper :)
- NQ Trader Jay
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