Bride of If You Can Draw A Straight Line

Looks like today may be the day to short, if one is trading the daily chart.

 

60 min shows some downward potential.

 

Interesting to see how 80 served its purpose, coincidentally at the top of the trend channel. 10 minutes from the open and price is making LLs if things keep their current path then 60 is my level to watch, as it is the bottom of the current trading range.

 

9:28 The market is ranging between 63 and 67.
9:32 Buyers failed to break above 67, sellers pushing hard.
9:36 Sellers failed to reject prices at the bottom of the range.
9:42 New attempt to break above 68. DL from 9:33 fanned
9:45 DL broken.

 

I'm surprised that no one on any of the other threads has pointed out the ES' rejection of 64 this morning.

 

Maybe they are busy waiting for an MA cross over

 

9:48 Short at 63
9:50 SL fanned

 

Db, would you consider 61 to 70 to be a possible chop range?

 

Look what you did, everybody started buying because of your post!

 

9:53 SL broken short closed.