Hello Everyone,
Range trade on the SPX/ES has unfolded as per Tuesday's comments. Price is coiling as a result with the SPX 9 day EMA now closer. Bulls remain in full control and think the run the equal highs above (either direct of after a dip). Lately we have seen consolidation/pullbacks M-W and up days on TH-FRI.
Tuesday Comments: Consolidation day (returned to a 3 day balance between ES (4307-4255) as the market is taking a breather following Friday's breakout after the Monthly Payroll report (see Thursday's comments below). As long as the market stays within this range, one should expect two-sided action.
Remain flexible and responsive to your triggers.
We have had some terrific trade ideas again this week so hopefully you were able to catch a few and thanks to all for sharing some other setups. Much appreciated.
ES Support 4285 4268-72 4255 with resistance above 4307 4317 4327 to monitor overnight. Will refine again later.
Please take a moment to look at the trade ideas.
