Saturday, June 15, 2024

ES Morning Update June 7th 2019

Not much to add this morning gang as the futures are looking to open up higher again. This move up for the bulls has been met each day with some kind of intraday pullback so the bears are still alive and kicking. We are getting up into an area of tough resistance and Rose found a FP on the SPY pointing to around 288.50 to 288.75, can't tell for sure the exact level. So at the rate the market is going that level could be reached in a couple more days. This assumes it pulls back today again some early on and back up into the close to end the about flat or only slightly up, which is what it's done for several days in a row now. The biggest move seems to always be right off the bottom and then from there it's a grind-fest. My best guess is that we'll hit that FP by next Tuesday and setup another great short. It could happen earlier but if the market continues the grind pattern Tuesday would be the most likely date. I'll end this update now and keep it short. Have a great weekend.

Author: Red

Related Articles


Latest Articles