Hello Everyone,
The SPX/QQQ pulled back to test their respective 9 day EMAs and today managed to bounce so now the bulls want to a follow thru day and not give back 50% of today's gains as a guide. As I have discussed for the past several weeks, the market has exhibited strength on Thursday's and Friday's so let's see if the them holds true (keep and open mind). If the current bounce stalls, then we could be looking at a wave B with a Wave C down to follow so trade what's in front of you. Liquidity is showing a decline next week so remain prudent on new longs (follow your plan). I have added some long setups which may or may not trigger and if they do may only be quick trades based upon current field position. Keep some hedges handy if needed.
ES Support 4404 and 4393 with resistance above 4231 and 4245 to monitor overnight. Will refine again and update in trading community prior to the open tomorrow.
Please take a moment to look at the trade ideas.
