ES traded as high as 1297.50 in overnight trading with EURUSD up as high as 1.277 after Italian T-Bills raised roughly double the EUR 5 bln target.
Jobless claims and retail sales to be released shortly.
I continue to like short entries here in the mid 1290s, though entries here are quite aggressive as there has been no technical signal of a top and trading participation is low. Regardless, I expect the highs are close to being in. As long as we don't see consecutive daily closes over 1300 ES, I will be biased to the downside.
Waiting on the jobless claims numbers now.
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Jobless claims rise and miss expectations. Retail sales numbers also worse than expected. ES selling in initial reaction.
ReplyDeleteMid 1290s resistance continues to look good.