Saturday, July 20, 2024

ES Morning Update November 25th 2019

The futures are up some this morning after gaping over a falling green trendline this weekend. They have been riding a yellow rising trendling since about November 4th or so, which is pointing to around 3100 today. The green falling trendline will likely meet with the rising yellow trendline soon, like possibly today before the close? There was a "possible" FP afterhours on the SPY of 310.31 around 4:49 pm, which is about 3103 on the ES/SPX.

That would be my downside target today if the market does pullback, which is hard to say for sure with this being a holiday week. If it does drop some today that FP area is around the level the two trendlines would meet, so there's some decent odds of it happening today. After that I'd expect more choppy and churning until after Thanksgiving. That's all for today. Let's see what happens. Good Luck.

Author: Red

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