I don't expect too much excitement in the markets this week. US markets will be closed this coming Friday in observance of the Christmas holiday.
This morning markets are gapping up a little bit. The S&P 500, the Dow and the Russell 2000 futures are all trading at new highs. Asian stocks traded lower over night and Euro stocks are currently showing strength. No major news in the markets until Wednesday.
Levels to watch today on the ES:
resistance above at: 1244.50, 1246 and 1248
support below at: 1240, 1234 and 1230
I like shorts anywhere above 1244. 1246-1248 looks even better to enter short, if the ES trades that high. I like buying the market between 1230 and 1234 on the ES.
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Long ES 1238
ReplyDeleteHard stop in now at 1237.25. If you want to play it safer, you can always put a stop in at break even.
ReplyDeleteConsidering short scalp here 1243-1244. No defense on entries at this price. I will exit if the trade does not go in my favor, only looking for a couple points
ReplyDeleteShort ES 1244, no defense above 1245
ReplyDeleteCover at 1245, considering re-entering the short...
ReplyDeleteConsidering long at 1242-1243
ReplyDelete