Tuesday, June 25, 2024

ES Morning Update July 15th 2019

The futures are up a little bit this morning but they are looking tired. However, there's still likely more upside coming before any decent pullback. The big 3000 level on the SPX/ES and 27,000 on the DOW has been cleared cleanly now and the bulls won't likely give it back up very soon. If I had to guess I'd say we'll top out by Wednesday, and then we'll have a pullback. Also, I'm still looking for 3040-3070 at the top of this rally (not the final top this year). It's a big range but I'll just be looking more toward Wednesdays close to see if it makes it up there or not, and whatever level it's at will be close enough (hopefully... LOL). On the short term, as in today, the futures look tired but I would still expect them to go up throughout the day. It just might be a slow grind versus a powerful squeeze type move. Not much else to add this morning so I'll keep it short and end here. Have a great day.

Author: Red

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