nice steady (if not a little slow for my liking) up move, as expected. Longer term, looking like we might breakout out soon, on route to 1500 ES.
markets are closed Friday and open tomorrow but light trading is expected as many will have left early for Xmas
Serious call! Somewhere in the neighborhood of 1262 cash should be a very tradeable top. Something along the order of 25 point stop (1287 cash) with a target of 80 points+ downside is the trade I am putting on.
I took that off within a week for a small, but decent loss on the position. This will be a medium position, much larger stop and target.
My holiday present: If the daily pivot is not touched during one day's trading, it is very likely that it will be touched the next day. Rarely does the market leave the daily pivot untouched two days in a row in the same direction. 1249 is the daily pivot today. The PP was not touched yesterday. I wouldn't even look seriously for a long until that is tested. Merry Christmas, Merry Christmas Eve, Happy Hanukkah, Happy Kwanzaa, Happy Eagles Miracle at the Meadowlands, and Happy New Year.