I continue to like short entries as the ES has crossed back above 1290 although I will be cautious amidst the current bullish market sentiment. Manufacturing PMI data across Europe shows growth and European markets are up. ISM Manufacturing data for the U.S. due out at 10:00am EST.
Levels to watch today on the ES:
Resistance above at 1293-1294, 1299-1300
Support Below at: 1283-1284, 1278-1279, 1272-1273
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Looking for a scalp short off of Friday's High
ReplyDeleteShort ES at 1299.25
ReplyDeleteGoing to hold onto this short, see what I can get on it. Consider break even stop or stop just above the high on this one now
ReplyDeleteTentative target 1293-1293.50
ReplyDeleteStill Holding... for the moment at least, selling needs to come in here
ReplyDeleteES touches 1300. Now will it sell or what? Sure doesn't seem that way...
ReplyDeleteScratched this trade, I'll look to get short again...
ReplyDeleteNext resistance at 1305
ReplyDeleteWe are going to need to see a reversal in the market either end of day today or tomorrow. If we don't, this bull run could continue.
ReplyDeleteThat said, I maintain my short bias unless the ES closes over 1300 today and is followed by a consecutive close higher tomorrow...
Short ES at 1302.25. Only taking scalps to the short side now
ReplyDeleteNote: Dow now at double top, which is a reason there is potential for a short here
ReplyDeletescratch short at 1302.50
ReplyDeleteApproaching critical resistance levels on the SPX with key resistance dating back to 2008 just overhead. Trading community is undecided as nobody wants to buy at these levels and few are willing to sell either. We'll have to wait and see if anything comes to pass before close of trading today.
ReplyDelete