Daily momentum change if ESM9 closes above 846 - will go long on pullbacks if this happens. Hourly momemtum is still down but can reverse if ESM9 breaks out above 842
The unusual move off the March low in terms of duration and size would under typical circumstances raise some concern of it being extended. However, short term price patterns for the S&P are still supportive for early next week as long as it holds above the 835/833 area. Resistance above the weekly high (845) is at 849/851 and 861/862. Other Major Support at 826 and 815 Other Major resistance at 861, 870
Will build a short position over the next few hours SELL ESM9 market (now at 817.75) ALSO SELL ESM9 @ 824 OB WILL ALSO SELL ON THE WAY DOWN