I want to start out by saying that nothing is guaranteed, trading is the accumulation of odds and probabilities.
With that said, we have many patterns in place for a large directional breakout today across all indices. I wont go into to much detail as this post would never end. I will tell you that today is very high rated. The only contigency is the amount of economic data.
I am expecting a range of about 12-15 points on the er2.
The Key zones for the er2:
R1 817-819
S1 804.50-805.50
S2 802-803
Typically on days like this we see the market open at one extreme and close in the opposite extreme. The only nuance to that is the strong resistance zone at 817-819. With the market opening lower I could definately see a possibilty of reversing in this zone. If the market can a breakout above that zone we most likely continue moving higher.
Any confirmed breakout below 802 and we could see an extended move to the downside.
ES key zones:
S1 1445-1446
S2 1440-1441.50
R1 1456.50-1457.50
R2 1459.50-1461
Best to trade with the trend on days like this. SR levels are usually cut through like butter. Also really important to watch volume in the first hour of trading. Institutions must be on line...
Good Trading
With that said, we have many patterns in place for a large directional breakout today across all indices. I wont go into to much detail as this post would never end. I will tell you that today is very high rated. The only contigency is the amount of economic data.
I am expecting a range of about 12-15 points on the er2.
The Key zones for the er2:
R1 817-819
S1 804.50-805.50
S2 802-803
Typically on days like this we see the market open at one extreme and close in the opposite extreme. The only nuance to that is the strong resistance zone at 817-819. With the market opening lower I could definately see a possibilty of reversing in this zone. If the market can a breakout above that zone we most likely continue moving higher.
Any confirmed breakout below 802 and we could see an extended move to the downside.
ES key zones:
S1 1445-1446
S2 1440-1441.50
R1 1456.50-1457.50
R2 1459.50-1461
Best to trade with the trend on days like this. SR levels are usually cut through like butter. Also really important to watch volume in the first hour of trading. Institutions must be on line...
Good Trading
