Market continues to maintain strength. The 1084 short would have worked out well this morning as the ES traded down over 5 points from the 1084.75 pre-market highs. We have since made new highs following better than expected pending home sales numbers. I'm continuing to scalp this market. I have yet to initiate a scale-in short trade as I feel the chances are strong that the market continues higher before offering a significant pull-back opportunity.
Having data issues today, so I won't post again unless something significant happens in price action.
I like a short off of 1090-1092 and 1098-1102
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FYI, now that we are hitting 1090 into the close, it is not as attractive a short as if we had hit this level during the regular day session... I would hold off on the short. Perhaps you can consider the short in the GLOBEX session, but even then, don't expect to get anything more than a couple points...
ReplyDeleteThis would be a great level to begin a scale-in short, however, the market is showing no signs of weakness so I will not begin my short play yet. keep you updated though when i do enter. At the moment I am looking at 1098 as a more attractive level to start scaling in short for the target 1070-1075 pullback...
ReplyDeleteAnd a close right on 1090... The lower 1090s is an important resistance zone as of this moment. Will be interesting to see how trading action commences in the overnight session. I'm not going to trade it, but there are descent short scalp opportunities. I don't think the ES can trade higher than 1094 in the overnight session and could see it trading down possibly to 1085. We'll probably open tomorrow without a gap... we'll see...
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