Tuesday, June 25, 2024

ES Morning Update November 15th 2019

I'll keep today's update short gang as there's not much to add. The market continues to grind higher a little each day. Futures are up this morning but not as much as last night. I don't see anything bearish today but I do suspect this will all change by late next week. I covered my thoughts yesterday about how the market makers will manipulate the market to push the VIX down into expiration, which is next Wednesday for this current November contract.

I don't know if they will do a small wave down on Monday or Tuesday and then back up into Wednesday to setup the market after that for a C wave (or wave 3) down. Maybe they do, or maybe they don't? I'm not interested in those small waves anyway. I'm just looking to catch the move down after Wednesday, which it might start that day or Thursday/Friday... not sure?

It's the Thanksgiving holiday kick off after next Friday so I wouldn't be surprised if they don't drop it the week of Thanksgiving when a lot of traders will be away from trading. We've seen this before where down moves are timed around holidays to catch the most people off guard, so another one wouldn't be a shocker to me. So I'll be watching for a good shorting entry between next Wednesday and Friday and hopefully we get a confirmed signal as well. Have a wonderful weekend and may God bless you.

Author: Red

Related Articles


Latest Articles