Wednesday, June 12, 2024

ES Morning Update April 17th 2017

Welcome back to everyone after a long 3 day weekend. Today I'll keep this short and to the point.  I'm expecting a kinda "pause" day today with a small rally.  Then one more move down either late in the day toward the close or Tuesday morning.  A retest of the 2322 low is likely around the bottom for this whole move down from the March 1st high of around 2400.  So, while I'm exactly sure of the date, it should be today or Tuesday for a bottom.  Then I'd expect a rally up the rest of the week to at least test the falling red trendline around 2370 right now.  But it's more likely that this rally will last for several weeks to shake out both bulls and bears.  Anyway, I said I'll keep it short so I will.  I'm looking to go long either today on a dip lower or Tuesday morning.

Author: Red

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