An expanded trading range as well as several significant daily market declines in the past two weeks signal a change in the markets. Overall the markets remain in an up trend but they are showing signs of vulnerability. A key level to watch for Monday's trading is 1176.75 on the ES. A close below this level should lead to continued selling in what would be a long awaited correction.
However, until we close below that level, I will be looking for long entries in this market. I don't have a specific price point yet, but I will post any long entries I take.
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Because we began the morning to the upside, I will be looking for scalp short entries at this point... 1194 is the next level I am looking at for a potential short entry
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