I had been expecting to get a little selling in the morning, at least maybe half a gap fill, but it didn't happen. We have pierced my 1180 resistance level to 1181 and we have already achieved a daily range consistent with the current average. It is possible that the high is in, but in reality, there are no signs yet that we won't just continue to churn up into the close. If an opportunity to short this market presents itself, I will post it here. If you already shorted in the 1179 to 1181 range, its a good trade, but be careful in this bullish environment, don't defend it...
If the markets don't turn down from here, 1184 on the ES is the next likely level to find resistance into the close...
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The 1178-1180 level turned out to be a great shorting opportunity. You could have taken 2 points with a short at the first touch of 1178. Next ES almost tested 1180, but stopped at 1179.75. ES moved down over 2 points from there as well. Then ES traded back up again and pierced 1180 to 1181. If you then Shorted again after 1181 failed, ES traded down 5 points from there. I'm flat, I'm done for the day. However, if we surge back to the highs before the close, I will short again at the highs...
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