Sorry the posts have not been coming. My desk issues are resolved. There was a conflict between my firewall and the trading platform that resulted in heavy traffic to my brokers network - causing them to block my IP address. Unfortunately, this impacted my ability to work the ES contracts.
We will probably get a bit of a bounce from here, and the tests will be first at 1100 then at 1115ish. I am actually hoping that we close in the 1110 range towards the end of the month, as I have a small butterfly spread around the 1080 - 11140 range. I think the best thing to happen for the bear camp is a battle in this range, with a downside victory.
My business calls for travel during the next two days, which means I will be inactive. I expect to resume analysis this weekend. I will be checking in on the markets from time to time and probably posting - certailing monitoring HMS blog and others.
Good luck out there!
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3 comments:
David , glad you are back up and working . Have a safe trip, I am sure the markets will be here when you get back :)
We see the same think , I can come up with 3 options all 3 take us in a bounce 1106- 1116 . Rsi is making sence for a bounce the lowest point at what looks like w3 of 3 .
Notice we still dont have 5 down on the daily .
Have a Great Trip ..
Hi payline,I'm still hanging in there scalping 2 steps forwared 1 1/2 step back on the futures.
I'm adding on my short swing position on strenght and stay very patiently.
I've noticed that this week around 1103 seems the top resistance.
Rejecting monday, tuesday and so far today thursday (pre trading).
Also the (intraday) lows from friday till today (pre trading).87, 82, 78 are declining.
If we see this pattern holding in trading today, it looks like a lower range & sliding low's might be in.
Good luck out there!
Hi Paulus , This market does not change direction easily does it ?
But its close to a corrective move ,
Ag products , oil , ect have found some support , the market will soon make an upward correction , but I think we have one more down to go .
that 1103 could be the upward move high , next week .
My Best to you and your trades
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