ES Journal - 2017/2018

Spot Price 2753 I think that the Derivative will Play at Up-trending to 2783 as in the example above. Before returning Back to Lows - But its only my Opinion.

 

pattern recognition looks like a massive bear flag...2740 is target.

 

upward markets create consolidation zone/volume profile densities at upper range.

 

It's tricky to trade on option expiration Fridays. The price action today is definitely weird, as expected.

 

If we closed right here, we'd have a buy signal on daily. The issue right now with this market is the weekly bear flag development (and daily if you look at it correctly). Monthly still bullish though so no real agreement.

 

Looking at the bids being hit and offers taken, the balance is heavily negative. But prices are being held up to get better VWAP.

 

Guess I'll review near the close. Talk to you later.

 

We should see some support at 54.

 

Lower Support Level is at 2745 As of the Current Price Action Swing High waiting A Break About 2760 towards 2783 All is Probable and mere faction.

 

So far so good, 61.8 fib held fairly well, just dipping lower by 1/4 to 53.75. We need to get over the 200ma to go higher.