Hello Everyone,
Following yesterday bearish engulfing candle on the SPX/QQQ, we saw a strong follow thru move to the downside closing near the lows and well below their respective lower BBs. From a technical perspective, many indicators are flashing oversold but we have yet to see a price confirmation. With this backdrop, continue to remain prudent and trail down stops on shorts while awaiting evidence of a turn.
ES support 4152 and 4126 and resistance 4171/77 and 4190/4200
Please take a moment to look at the trade ideas.
