Wednesday, June 19, 2024

ES Morning Update February 4th 2016

2c414ec0-b9f3-4745-aa1e-eeba242ba2a4Resistance 1920-1930.  Support 1865 triple bottom area.

Looking at various charts and time frames this morning I can't see any clear picture for the next direction.  Most charts are overbought (short term) and should rollover but some are bottomed and pointing up.  It's very mixed today.  There is overhead resistance that the market wants to breakthrough, but I don't think it has the strength today.  I'm leaning toward a choppy day of nothing to trade.  I don't see the bulls breaking out strongly, but I don't see the bears taking it down either.  There's just no clear edge today for me to forecast the direction.

Author: Red

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