impressive hold through the drawdown. If we didn’t V reverse, how would u have handled that trade out of curiosity
Rollover or continuation ? Strictly from the charts it looks 50/50 but I’d be surprised if they actually got this to fall this afternoon.
The 60mn is suggesting we will be breaking out of this narrow range, I am leaning north because of the reversal bar close with the 299k volume (yellow circle), once we get over the 1mn close in the 75.25 we should be seeing some price firming, today or tonight?
Sluggish NQ near the LOD (but still positive for the day) is holding us down. If NQ can hold green and rally a bit from here - up we go. Else - probably back inside the range for ES too... Go NQ!
We're down about 0,3 % for the week. Barely 1 % from the ATH. Wouldn't be too concerned for the bull case on ES yet. NQ is a bit more ugly, but I suppose it's possible they'll decouple for a while and that we'll see a rotation out of tech.
heathiest thing we can see from these markets is a few months of mild distribution. Media and news outlets are aggressively pursuing the inflation case. Whether it’s true or not it still should be good for a pullback in the meantime
Indexes rarely decouple for extended periods of time. I'm waiting to see if the ES / YM catch up with the NQ / RTY, or if the opposite happens.