Hello Everyone,
As I mentioned to Matt over the weekend, Monday's have more often been down days and today was no exception with the market flushing lower into the close. No change in structure as yet but traders were picking up some longer dated VIX calls (paired with short term VIX puts). This is often foreshadows a change, but with the count incomplete, thinking another push higher still realistic. Cycle guys are looking at a potential turn window around March 1/4t which I will also monitor. A few of the Mag 7 are starting to lose their momentum which also coincides with thoughts above. Project, monitor, and adjust all while following YOUR PLAN.
On ES resistance above 5093 (bulls must reclaim to move direct) with lower target zone posted as sticky page in the trading community. Short term onus on the bulls.
Administrative Note: I will be away for much of the day tomorrow attending a funeral.
Please take a moment to look at the trade ideas.
