Hello Everyone,
Snapback rally today after holding key support zone posted on the weekend. Below are my comments from the weekend newsletter.
The ES Weekly level of interest is 4410 which is Friday's afternoon high. A break and hold above 4410 would target 4420-30 the resistance zone 4440-4460 (which encompasses the 4451 gap) and 4485.
Holding below 4410 would target 4370. This unfolded on Monday before today's bounce.
ES went down to 4370 and bounced from support and then broke above 4389 pivot and 4410 to the next zone around 4425 stated in the weekend newsletter.
ES Support 4402 with resistance above 4425-30 to monitor overnight. Will refine again and update in trading community prior to the open tomorrow.
After hours: News from Biden Admin regarding curbing chip sales to China - NVDA and AMD lower. JP speaks tomorrow at 9:30 EST
Please take a moment to look at the trade ideas.
