My first target has been reached with the ES crossing above the 1237-1240 level overnight and again this morning. The ES is trading above the 61.8% retracement from the October 4th lows to the July highs. Friday's close was quite bullish as the ES closed above last week's consolidation range. If the ES closes above 1240 today, I expect bullish action to continue with the next target being 1258 ES.
No substantial agreements were reached at the EU summit over the weekend. The next meeting will be on Wednesday and without something positive coming out of it, look for a possible short-term sell reaction in the markets in the second half of this week.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment