There is certainly no obvious reason to be short when I look at the cash chart. --Cash rules futures.
This imminent move called 2 weeks ago will be larger than expected... It will be significant to PA for remainder of the year, imho.
Obviously I was wrong on Friday. On the other hand right now we have 2 consecutive upgaps, and nature doesn't like vacuum. I expect at least today's gap to be closed before further run up.
Today's gap is pretty close-by. --Very possible. However, I look for the gap from 1/30 to be filled prior to your first gap. If I'm wrong, I'm wrong---toes still tapping.
So what you`re saying is , with Fridays Bully PA, you would now like to conveniently skin your previous bearish stance & embrace the bull horn & kiss it`s horn while on bended knee? How right you are - Please wait whilst the Derivative supplies you with more reliable and sufficient data as to evaluate the present outcome. I merely pointed out that here still remains further pips within the Highside But as to my Evaluation at present time i am under the impression that the Derivative is about to make a rather Large Swing Low Towards 2558 But its only my opinion and will not effect your current viewing.
A brand new swing purchase here would require your stop to be 2718. That may be too large for folks----don't know.
My S/R's for the day for ESM18: R from the daily chart ~ 2802 S on the daily ~ 2790 On breakout of this range, 2775 on downside, 2829 on upside. 5 day trend is up, so plan is long only today.