Nothing has changed, expect light trading to continue this week. I thought we might get a short entry signal before the end of last week, but it didn't happen. There remains plenty of resistance overhead, so I continue to like shorts at new highs while buying dips. There will be a nice opportunity to hold a short entry for at least 30 points, but until we get a signal, I have to favor taking profits on short entries relatively quickly and buying the dips...
This morning I will consider buying the market if the ES trades down to 1405-1407 and overall will be watching for a trading range between 1400 and 1430 this week.
In fact, there are two overhead resistance levels I will be watching on the ES:
1420-1421 and 1430-1431.
I will look for signals to enter short at or around both of these levels this week on the ES.
Overall though, at least for the time being, you have to favor the long side. When it is time to enter short and hold for a significant gain, I will post about it...
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment