Market definitely Bullish of late. I had said previously that I expect the lows to be retested before we see a genuine market rally. By genuine market rally I mean moving beyond the January highs and possibly retesting the April highs. I do not think this can happen without first coming back to test the 1000 level on the ES. That being said, I am not going to sell this market just yet. I won't be looking to to take any potential swing shorts until we trade up beyond 1110. I will be looking at opportunities to get into a swing short between 1110 and 1132. Somewhere in this range will mark the highs before the next significant move down.
Other key levels on the ES, above where we are currently trading, are 1102 and 1143. I will be looking at short opportunities at these levels as well.
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