Prices traded lower during the overnight session but are trending higher as I am posting this report. This could end up as a range day with mixed trading, but for now, the trend and bias are both up, so stay with that until the chart shows us otherwise. There is no gap on today’s chart,
The rally from yesterday continued into the overnight session and into the regular session opening this morning. Every new high today will be another new all-time high for the ES, so keep that in mind. At these prices, we have no former resistance levels or known targets, so it is new territory for us and
After trending up during the overnight session, prices turned lower again just prior to the 8:30 AM CST regular session opening. The overnight move up left a gap on the chart, and should prices attempt to fill that gap, that target is down at 7141.50. Prices have been in a tight range for the last
Today is an FOMC rate decision day, so you should not take any new trades after 12 Noon, CST. If you are already in a trade, be sure you exit before the news announcement at 1 PM CST. You never want to be in the market during a rate announcement, as you can get caught
Prices traded down during the overnight session, leaving a large overhead gap on this morning’s chart. Prices have tried to rally but are not having much success thus far. Things are mostly mixed and sideways as I am typing this up. I would expect prices to try and fill that gap if they can, but
Today looks like more of the same with mixed trading and range like price action. As I have been saying almost every day, prices could trend at any time, so stay flexible, but for now, things appear to be in a consolidation phase after the recent rally back to new highs. The market is still
Prices rallied during the overnight session leaving an overhead gap at the regular session opening at 8:30 AM CST. Prices appear to be working lower in an attempt to fill that gap. The target for that would be down at 7132.50. Expect mixed trading today no matter how this day plays out, but this appears
Prices are trending higher again this morning, but there is some strong resistance just below the target I placed for a measured move up. This market seems to want to go higher, even in the face of all that is going on with the middle east and with the high oil prices, so do not
Prices are rallying again today. Stay with the trend up as long as it remains in play but expect some mixed trading at times and do not get caught off guard if a correction comes at any time. This market wants to go higher, but it is also very overbought. Do not argue with the
So far this looks to be another range type day with mixed trading. Prices could take off trending at some point, but this feels more like consolidation after the large rally we have recently seen. If consolidation is in fact what we are seeing, some sideways movement that relieves some of the overbought pressure is