ES Short Target
I'm expecting a bearish reaction to NFP tomorrow, but we'll see. Not gonna bother trying to predict that, but I will react to it. ES held around 5500 today and has demand from ~5486-5471. If we end up selling off below 5471 tomorrow, 5440 is the first target after that and eventually down to the trendline below.
That may be around 5350 depending on when it hits. We may get a bounce around 5440, which could lead to a retest of the demand near 5486, it should flip to supply if broken below. If we hold 5500 and reclaim the trendline above, I'd be looking for longs on a retest. VX will be an important thing to monitor as well.
That may be around 5350 depending on when it hits. We may get a bounce around 5440, which could lead to a retest of the demand near 5486, it should flip to supply if broken below. If we hold 5500 and reclaim the trendline above, I'd be looking for longs on a retest. VX will be an important thing to monitor as well.
Short Thesis:
advancedplays.com/short-thesis.pdf
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky, most traders lose money!
advancedplays.com/short-thesis.pdf
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky, most traders lose money!
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.