The ES made new highs in overnight trading moving as high as 1277. This morning's jobless claims number was slightly worse than expectations and the market reacted by slowly selling off back down to yesterday's late afternoon consolidation range. I expect today to be more or less choppy ahead of tomorrow's employment situation. After yesterday's ADP jobs report, expectations will be high.
Key levels on the ES today:
Support below at: 1269-1270, 1264-1265 and 1259-1260
Resistance above at: 1275 and 1280-1281
If the ES were to trade down to 1265, I would be a confident buyer at that price...
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Market action beginning to weaken. I think we will move down to test my 1265 level (ES) at which point I will take at least a long scalp
ReplyDeleteTried to get short ES at 1271.50, but didn't get filled...
ReplyDeleteTwo times today I had an order entry to get short at the price ES was trading. No fill both times. Oh well... At this point it is beginning to look like the bottom may be in. I don't know if we will see 1265 today. I like another short around 1171-1172 if we trade back up there. Otherwise, I like a long entry somewhere under 1265...
ReplyDeleteI meant to say 1271-1272 as a potential short...
ReplyDeleteLong 1267.75, no defense here
ReplyDeleteSell at 1268.75 for 1 point. Taking too long to develop, just taking small profit now
ReplyDelete