nmynf

nmynf

For Friday's RTH session, I went long at the pre-market support level that I identified. I was convinced of the bullish environment then and just stuck with it, with a target of this week's high level. For next Monday, I believe the market may aim to push back to the all time high. No key economic announcements next week either and the following week is already...

nmynf

After no new lows for the week recorded yesterday, I think traders are already digesting those earnings announcements and the inflation data (Hey is it transitory?). Overall market structure is still bullish looking at the daily charts, where ES is still hovering around the 9-Day EMA level.

nmynf

There was a rejection in the area of 4675-80 in the first half of the opening of the market, which was also the daily high. On Monday, the area was defended by buyers, but I think sellers have came in and pushed through that very level after it broke yesterday. Shorting the area would give a pretty decent risk-reward ratio. Now I would be looking into a more...

nmynf

Yesterday we saw another rejection at the 4700 level. There are currently lack of buyers in the this region and I think many are starting to feel that it has been overbought. Will see if this bearish trend continues in the overnight, and if it continues to be below the 4680 level, we might see yesterday's low being tested again at around 4663.25.

nmynf

Judging by yerterday's failure to make any new highs, sellers might just be coming in today. If market is trading below level which was defended yesterday, we might just see further liquidation. I am not 100% short at this time because the buying volume over the past few weeks have been quite 'healthy' but it is getting too over extended since the lows of October.

nmynf

Is the market really this bullish or maybe it's just over extended and really need of a clear pullback. The #Es_F has not touched the 9 day EMA since mid last month in October. I think it is due for a pullback. Overnight shows some sign of lack of buying interest. If the ES can keep up above the 4700 psyhcological level, we might just see some follow up to this move.