Markets around the world are down in reaction to North Korea and South Korea exchanging artillery shell fire. Asian markets closed lower with The Hang Seng leading the way down at -2.7%. The ES fell 1.2% overnight and the US markets are set to open with a significant gap down as we are currently trading near yesterday's lows.
US dollar was bought up overnight as concern remains over European sovereign debt. Markets caught an unnatural bid yesterday on news of an Irish bailout and the Korean conflict was a good excuse to sell it back down.
I expect lower lows on the horizon.
Levels to watch today (ES):
Resistance above at: 1187-1188, 1191-1192, 1197-1198, 1202-1203
Support Below 1182-1183, 1178-1179, 1172-1173
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Long ES 1177.75
ReplyDeleteSold at 1181. Will look to buy in again on the down-tick. Only taking long entries below 1185
ReplyDeleteLong ES again at 1179.25
ReplyDeleteHolding this long. Not worried that I can't get out for at least break even.
ReplyDeleteSell ES at 1181
ReplyDeleteLong ES 1177.25
ReplyDeleteHolding long position with a stop at break-even. Looking for target of 1181.25, but will consider taking profits sooner
ReplyDeleteSell ES at 1180, took the 2.75 points
ReplyDelete