Bond Market going up in the face of the Fed rasing rates says that it is seeing something that the Fed is not seeing ---ie that the economy is already slowing and the Fed has overdone it on interest rates to the extent that it will hurt. Oil going down will hurt the energy sector badly. Things do not look good. Better look to short ES soon in the New Year. This rally is not going to last very long.
I have been taking just long trades since that tweet from Trump about trade. Nice Price Action today. If the trade deal actually gets made, the shorts are going to shit in their pants for those longer term traders.
Resistance is around 2510, I did not ride it up that high nor did I short resistance level. I could not force myself to make anymore trade after a certain number of winning trades. I would actually draw a resistance line around 2509 and a support line now around 2494. I think NoDoji used to say she just kept taking all trade setups and saw what the market would give her at the end of the day. I need to try that when I am doing good trading in the zone and let some of my winners run more like you do. I think she made like $ 20,000 in a week and is probably one of the best traders if she still got it. I was in a skype session with her once and she showed me one setup called the golden cross. At least I did better than my normal days total win and now just need to decrease the amount for my bad days plus keep pushing to a higher win amount.
But you will notice that the MA is getting very close to price and a decision will be made soon. I will continue looking long for now.
Chances of follow through buying to continue the afternoon rip have been greatly reduced here as a third attempt on the 2530 area has been rejected. With each rejection, it gains strength as resistance.---Not saying we can't have a northward rip---we certainly can----plenty of time--but a rip above 2510 is greatly reduced---holding long for now.
Should get back to at least 2502 prior to RTH closing and we'll see if we can get follow thru buying again from there. Edit---we did the 2502 as I typed.